Shanghai's industrial output, trade see robust growth in Q3

Aerial photo taken on Aug. 20, 2022 shows the Tesla Gigafactory in Lingang new area of the China (Shanghai) Pilot Free Trade Zone in east China's Shanghai. (Xinhua/Jin Liwang)

SHANGHAI, Oct. 27 (Xinhua) -- The major economic indicators of China's business hub Shanghai were better than expected, official statistics showed Thursday.

The city's value-added output by major industrial firms jumped 14.9 percent year on year in the third quarter. The total industrial output in September reached 404.12 billion yuan (about 56.46 billion U.S. dollars), marking a record high.

Meanwhile, the city witnessed a record quarterly volume of trade in goods of 1.21 trillion yuan in Q3. Its total foreign trade increased by 16.6 percent year on year.

Actual use of foreign investment in Shanghai reached 18.57 billion U.S. dollars in the first nine months, up 11.3 percent year on year.