Shanghai's exports hit a record volume last month, with rising industrial production and robustretail sales that pointed to a steady economic expansion.

Imports and foreign direct investment also grew in July, but at slower rates than in June.

All in all, the city is on pace to reach its target growth rate of 8 percent for the full year, and officials said it's very possible the expansion will reach 10 percent.

Exports in Shanghai jumped 38.8 percent on an annual basis to US$16.9 billion in July, a record for a single month. The growth rate picked up from a 32.3 percent advance in June, according to the Shanghai Statistics Bureau.

Imports gained 22 percent to US$15.5 billion last month. But the speed of expansion slowed from the surge of 44.2 percent in June due to decreased demand amid an economic restructuring.

"The moderation in imports is expected because the city now needs less raw materials for production when energy-intensive and highly polluted projects are reduced," said Li Maoyu, an analyst at the Changjiang Securities Co.

The enforced contraction "may drag down industrial production and other economic indicators in the near future, but it benefits Shanghai's growth in the long run to make it a healthier expansion," Li said.

Industrial output in Shanghai rose 23.7 percent from a year earlier to 249.2 billion yuan (US$36.8 billion) last month, faster than June's increase of 20.4 percent.

Meanwhile, the city's retail sales advanced 18.1 percent to 50.5 billion yuan in July, more than the average increase of 17.6 percent in the first seven months.

More spending during the World Expo 2010 Shanghai was the main reason for the robustconsumption, together with the city's prolonged stimulus measures for the purchase of household appliances and automobiles.

In July, sales within the Expo site amounted to 542 million yuan, up 2.8 percent from June. At the same time, the number of visitors jumped to 13.78 million last month, 5.3 percent more than June's attendance.

Foreign direct investment in Shanghai, however, edged up only 0.7 percent from a year earlier to US$916 million last month, softening from the increase of 1.78 percent in June.

"The fluctuation is temporary," Li said.

"Shanghai is an attractivedestination for foreign investment due to its huge market potential and good urban infrastructure."

• volume [´vɔlju:m, ´vɑljəm] n.卷；书籍；体积；容量 (初中英语单词)
• industrial [in´dʌstriəl] a.工业的，产业的 (初中英语单词)
• pointed [´pɔintid] a.尖(锐)的；中肯的 (初中英语单词)
• investment [in´vestmənt] n.投资；(时间等)投入 (初中英语单词)
• annual [´ænjuəl] a.每年的 n.年刊 (初中英语单词)
• bureau [´bjuərəu] n.局；编辑部；事务所 (初中英语单词)
• output [´autput] n.产品；产品；计算结果 (初中英语单词)
• meanwhile [´mi:n´wail] n.&ad.其间；同时 (初中英语单词)
• advanced [əd´vɑ:nst] a.先进的；高级的 (初中英语单词)
• attractive [ə´træktiv] a.有吸引力；诱人的 (初中英语单词)
• expansion [ik´spænʃən] n.扩大；膨胀；发展 (高中英语单词)
• billion [´biljən] num.万亿 (高中英语单词)
• consumption [kən´sʌmpʃən] n.消耗；结核病 (高中英语单词)
• destination [,desti´neiʃən] n.目标地 (高中英语单词)
• potential [pə´tenʃəl] n.&a.潜在的；可能的 (高中英语单词)
• retail [´ri:teil, ri´teil] n.&a.&v.零售(商品的) (英语四级单词)
• statistics [stə´tistiks] n.统计学；统计 (英语四级单词)
• moderation [,mɔdə´reiʃən] n.适度；温和；节制 (英语四级单词)
• contraction [kən´trækʃ(ə)n] n.收缩；挛缩 (英语四级单词)
• stimulus [´stimjuləs] n.刺激(物)；促进因素 (英语四级单词)
• robust [rəu´bʌst] a.强建的；茁壮的 (英语六级单词)
• fluctuation [,flʌktju´eiʃən] n.波动，起伏，变动 (英语六级单词)