Shanghai's economic growth is shifting from an investment-driven model to one relying more on consumer spending - a transition that complies with the state's blueprint for national development, a new report shows.

Shanghai's urban fixed-asset investment increased eight percent on year to 290.2 billion yuan (US$36.7 billion) from January to October, the country's only province or major municipality to post single-digit growth, the National Bureau of Statistics said yesterday.

The expansion rate, moderating from 15.2 percent the year before, compared with a 26.8 percent national average for the first 10 months of 2006.

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