Exhibitions bring business
EXHIBITION business should be nurtured to become a new driving force in building up Shanghai's economy, experts said.
Panel of financiers meet hi-tech masters
THE first round of the O'Melveny & Myers High-Tech Entrepreneurs Programme was successfully conducted in Shanghai yesterday.
GM: Private car sales promising
SALES of family cars in Shanghai will rise in the next few years as incomes rise, said Philip Murtaugh, general manager of GM China Inc's Shanghai office.
Pudong outlook
PUDONG is to focus on the development of the 28-square-kilometre area along the Huangpu River, which will become part of a central city in 20 years, and the area along East China Sea starting from this year, Hu Wei, deputy director of the new area's administration, recently told visiting deputies of National People's Congress. Service industries, including banking and insurance services, will be further backed up and the riverside port area will be revamped to allow later beautification of the central city. The government will also speed up the construction of the Waigaoqiao Port and Waigaoqiao Shipyard to help establish Shanghai as the inter-national centre for transportation.
IT forum to stress building a digital city
STRONG emphasis on the city's cyber-port project will be maintained in
Tianjin, focus of Motorola's plans
Tianjin-based Motorola (China) Electronic Co said last week it plans to increase its investment in China by over 2 billion yuan ($241 million) within the next five years.
Apartments ease yuppies' housing
SHANGHAI Balin Community Co Ltd, the first property service company in Shanghai to provide clients with a chain of furnished apartments throughout Shanghai, plans to launch "waixiao" apartments targeting overseas and local tenants.
All shipping services make gains
SERVICES bound for the United States are still brisk due to its robust economy.
Industrial output jumps last year
By Xu Xiaomin
THE city's industrial output last year saw a 9.6 per cent increase, or 175.87 billion ($21.24 billion) more in value, compared with the previous year. A recently released report from Shanghai Statistics Bureau said the output of light industry increased by 7.6 per cent and heavy industry by 11.3 per cent. About 98.1 per cent of industrial products were sold out which made the city the leader in the country. An outstanding achievement obtained last year was that the city's industrial losses decreased by 970 million yuan ($117 million), 10.3 per cent lower than in 1998. The number of loss-making enterprises decreased from 210 in 1998 to 156 last year. The achievement should contribute to the capital's remoulding, cost reduction, upgrading of products, developing new products and enlarging the market to strengthen loss-making enterprises, according to the bureau. Losses by State-owned enterprises decreased by 13 per cent last year. The loss by Shanghai Auto Industry Co decreased by 69.6 per cent, and Shanghai Medicine Group decreased by 51.4 per cent. Other industries such as construction materials, steel, fabrics and electricity also showed lower losses.
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