Minhang District makes continuous efforts to optimize its industrial structure. In 2011, the industrial sector of the secondary industry accounted for 63.4 percent of the district’s GDP and the tertiary industry for 36.5 percent. The stable growth of the secondary and tertiary industries has become a driving force for economic development in the district. In terms of tax revenue, three income taxes grew most rapidly. Income tax from domestic-funded enterprises,

foreign-funded enterprises, and individuals reached 5.6 billion yuan, 6.378 billion yuan, and 4.521 billion yuan,

respectively, up 20.1 percent, 19.4 percent and 20.2 percent from a year earlier. The contribution rate of the three taxes to the district’s tax revenue reached 58.7 percent. In terms of industries, the wholesale, retail, lease and business service; information transmission; and computer service and software industries registered fast growth of 31.6 percent, 34.3 percent, and 26.4 percent, respectively.

In 2011, the district’s investment in fixed assets totaled 31.116 billion yuan, up 0.9 percent from the previous year.

Investment in industry reached 7.893 billion yuan, accounting for 25.4 percent of the total for an increase of 1.4 percent over the previous year. Investment in real estate development reached 18.352 billion yuan, accounting for 59 percent of the total and an increase of 3 percent over the previous year. Investment in infrastructure reached 1.576 billion yuan, accounting for 5.1 percent of the total, a decrease of 3.2 percent over the previous year.

In terms of industries, the secondary industry absorbed 7.896 billion yuan, 25.4 percent of the total, while the tertiary industry attracted 23.22 billion yuan, or 74.6 percent of the total.

In terms of investment subjects, foreign businesses and those from Hong Kong, Macau and Taiwan invested 4.041 billion yuan, accounting for 13 percent of total investment.State-owned businesses invested 7.183 billion yuan, accounting

for 23.1 percent of the total. Private businesses invested 7.909 billion yuan, accounting for 25.4 percent of the total. Other sectors poured in 11.983 billion yuan, accounting for 38.5 percent of the total.

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