China Knowledge quoted according to the latest statistics released by the Shanghai Statistics Bureau Shanghai saw its investment in the industrial sector fall 1.8%YoY to CNY 110.64 billion in the first 11 months of this year.

The figure accounted for 25.4% of the city total fixed asset investment during the period.

During the period from January to November, the city investment in energy-intensive industries dropped 13.6%YoY to CNY 20.34 billion as a result of the local government effort in energy saving and emission reduction. Investment in the ferrous metal smelting and pressing sector saw the biggest decline of 37% reaching CNY 5.14 billion and that in the power and heat producing and supplying sector decreased 10.5%YoY to CNY 9.51 billion.

The city saw steady growth in investment in the six pillar industries, which stood at CNY 61.41 billion during the period up by 7.9%YoY and accounting for 55.5% of the total investment in the industrial sector. Investment in the biopharmaceutical industry soared 130%YoY to CNY 4.42 billion and that in the electronics and information technology industry rose 17.1% to CNY 22.30 billion.

(Sourced from China Knowledge)