Shanghai’s Pudong targets GDP growth at approximately 7pc

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Pudong New Area in Shanghai is striving to achieve year-on-year GDP growth of about 7 percent this year, local authorities have said.

In 2022, the total industrial output value of major enterprises with an annual business turnover of at least 20 million yuan (about 2.9 million U.S. dollars) in Pudong reached around 1.33 trillion yuan, an increase of 3.6 percent from the previous year, said Hang Yingwei, head of the Pudong New Area while delivering a government work report at a local legislative session Thursday.

Last year, Pudong’s foreign trade volume totaled 2.43 trillion yuan, up 2 percent year on year, while its actual foreign investment grew 3 percent to 11 billion U.S. dollars, according to the government work report.— Xinhua