Jan. 3, 2012 (China Knowledge) - Shanghai
saw its investment in the industrial sector fall 1.8% year on year to RMB 110.64 billion in the first 11 months of this year, according to the latest statistics released by the Shanghai Statistics Bureau.
The figure accounted for 25.4% of the city's total fixed-asset investment during the period.
During the period from January to November, the city's investment in energy-intensive industries dropped 13.6% year on year to RMB 20.34 billion as a result of the local government's effort in energy saving and emission reduction. Investment in the ferrous metal smelting and pressing sector saw the biggest decline of 37%, reaching RMB 5.14 billion, and that in the power and heat producing and supplying sector decreased 10.5% year on year to RMB 9.51 billion.
The city saw steady growth in investment in the six pillar industries, which stood at RMB 61.41 billion during the period, 7.9% more than in the corresponding period of last year and accounting for 55.5% of the total investment in the industrial sector. Investment in the biopharmaceutical industry soared 130% year on year to RMB 4.42 billion, and that in the electronics and information technology industry rose 17.1% to RMB 22.30 billion.