Economic Growth
In 2013, Shanghai sustained a steady and progressive economic growth amid double impact of external challenges and the city’s own development difficulties. Following the principle of innovation and economic restructuring, Shanghai pressed its head in boosting economic growth, remodeling economic structure, deepening reforms and improving people’s livelihood. The city’s GDP totaled 2.160212 trillion yuan, up 7.7% over the previous year in terms of comparable prices.
Economic Strength
The city’s per capita GDP, calculated by the long-term resident population and the then exchange rate, jumped over the US$5,000 mark in 2004 and surged above the US$10,000 mark in 2009. In 2013, it reached us$14,547, which was about the level of a medium-developed country or region.
Fiscal Revenue
The city’s fiscal revenue has witnessed constant growth. It stood at only 16.922 billion yuan in the late 1970s when China initiated the reform and opening up policy. In 2013, Shanghai’s local fiscal revenue amounted to 410.951 billion yuan, 9.8% higher than the previous year.
Tax Reform
Shanghai is the first provincial region in China to implement the pilot business tax to value-added tax reform. The reform’s positive effect further proved itself after two-year implementation. In 2013, the pilot policies extended from the original transport and modern services to broadcasting and film industries, bringing more structural tax cuts. Since the reform was launched, altogether 195,000 companies joined the pilot program to switch their business tax into VAT, with a total tax cut of more than 40 billion yuan.
Shanghai’s Contribution to the Nation
Shanghai plays an important role in the nation’s social and economic development as the international metropolis-oriented city is striving to lead the growth of the Yangtze River Delta region. With only 0.0+% of the nation’s land area, Shanghai contributes 3.8% of China’s GDP. The volume of cargo containers handled at local ports accounts for 17.8% of the nation’s total, and the value of imports and exports at Shanghai Customs accounts for 19.5% of the nation’s total.
Economic Structure
The city is constantly transforming its growth mode and upgraded its economic structure.
In 2013, the proportion of the tertiary industry reached 62.2%, 1.8 percentage points higher than that of the previous year. The ratio of the city’s primary, secondary and tertiary industry stood at 0.6:37.2:62.25.
Shanghai saw an evolving demand structure, in which internal demand continued to outperform external demand. In 2013, retail sales increased by 8.6%, commodity sales grew by 12.5% and social fixed-asset investment rose by 7.5%. the growth of internal demand outpaced that of the external demand, and consumption volume increase beat the investment volume growth. It’s getting clearer that the economic growth was propelled by internal demand, especially effects brought by consumption.
In terms of the ownership structure, the growth of the non-public economic sector outpaced that of the public economic sector realized an added value of 1.100676 trillion yuan, up 8.4% from the previous year, and 1.5 percentage points higher than the public economic sector. It also accounted for 51% of the city’s economy, up 0.3 percentage point over the previous year.
Service sector
Tertiary industry retains a robust development in Shanghai, with e-commerce, modern shipping service and strategic new tertiary industries catching up quickly.
In 2013, the city’s strategic tertiary sector generated an output of 148.636 billion yuan in total, up 10.3% from the previous year. The financial industry, real estate sector and information transmission computer service and software industries saw their output increase by 13.7%, 11.3% and 12.8% respectively. All the listed sectors outgrew the city’s GDP increase, 7.7%.
Transport
Shanghai is one of the country’s most important transport hubs. In 2013, shanghai handled 915.3507 million tons of cargo, down 3% from a year earlier. The number of passengers leaving the city totaled 159.3252 million, an increase of 9.5%.
Shanghai continued on the way to building itself into an international shipping center. In 2013, Shanghai ports handled 776 million tons of cargo, an increase of 5.5% from the previous year. The volume of containers Shanghai ports handled rose by 3.3% to 33.6168 million TEUs, ranking top in the world for the fourth consecutive year. About 45.4% of the incoming containers were shipped to other cities at the city’s ports, 2.6 percentage points higher than that of the previous year. Among the figure, about 7% were shipped to ports abroad, an increase of 1.5 percentage points.
Shanghai is the first city on the Chinese mainland with two international airports. In 2013, the Pudong and Hongqia airports handled 615,100 flights, totaling 82.7918 million passengers.
Shanghai’s cruise business development accelerated in 2013. Throughout the year, the city harbored 197cruise ships. Among them, 167 ships set Shanghai as their home port. The number of passengers local ports handled increased by 1.2----folds to 756,600 passengers in total.
Handing a daily passenger volume of 17.42 million in 2013, the public transport in Shanghai had become a top choice for the residents due to its fast speed, convenience and low cost. Up to 2.5306 million passengers enjoyed the discounted fare for transfer in the public transport network every day. By the end of 2013, Shanghai had 1,338 bus lines and an operational fleet of 16,717 buses. The city had 14 subway lines and an operational fleet of 16,717 buses. The city had 14 subway lines and a maglev line, extending 567.42 kilometers and transporting a daily average of 6.87 million passengers.
Post and Telecommunications
In 2013, Shanghai’s post industry, including the courier sector, generated 25.87 billion yuan, up 35.5% from the previous year. Telecom sector saw its business volume increased by 9% to 48.739 billion yuan.
By the end of 2013, the city’s landline telephone subscriber number reached 8.6924 million, including 5.1228 million household subscribers. The number of mobile phone users stood at 32.0065 million, a year-on-year increase of 1.9235 million. Among the mobile phone users, 3G-network subscribers rose by 3.9925 million to 11.474 million.
Retail
In 2013, Shanghai’s commodity sales totaled 6.05 trillion yuan, up 12.5% over the previous year. Retail sales of consumer products rose by 8.6% to reach 801.905 billion yuan. Among the total, food sales were 132.068 billion yuan, up 3.6%; clothing sales 76.41 billion yuan, up 4.5%; and sales of consumer goods for use 333.441 billion yuan, up 8.3%.
Virtual retail business maintained a fast-growing momentum. Among all the retail legal-person entities, transaction completed in the virtual world generated a sales volume of 55.659 billion yuan, an increase of 42.4%. Sales of online e-commerce stores rose by 52.4% to reach 46.538 billion yuan.
Finance
New breakthrough has been made in developing the city into an international financial center. In 2013, the sector realized an added value of 282.329 billion yuan, up 13.7% over the previous year.
Financial institutes have set up offices in Shanghai at faster speed. At the end of 2013, shanghai ha a total of 1,240 financial institutes, including 215 foreign-funded businesses and 198 liaison offices of foreign-invested financial institutions. In the year, the city launched a series of financial products, including the treasury bond futures, asphalt futures and gold-trading fund, to boost the pace of the local financial market’s internationalization and to enhance its international influence as a financial hub.
Shanghai also witnessed increasing deposits and credits. At the end of 2013, the balance of deposit accounts at all financial institutions in the city totaled 6.925632 trillion yuan, 547.425 billion yuan more than the figure at the beginning of the year. Their outstanding loans amounted to 4.435788 trillion yuan, an increase of 329.746 billion yuan compared with the figure at the beginning of the year.
The insurance market enjoyed stable growth. In 2013, the city’s premium revenue totaled 82.143 billion yuan, up 0.1% from the previous year. Among them, premium revenue of property insurance indemnity rose by 12.2% to 30.483 billion yuan. The total insurance indemnity amounted to 30.195 billion yuan, an increase of 18.1%.
The city has kept on improving its financial market system. In 2013, the city’s financial market turnover, with foreign exchange market excluded, reached 588.87 trillion yuan, up 58%. Turnover at the Shanghai Futures China Financial Futures Exchange hit 5.22 trillion yuan.
Real Estate
In 2012, Shanghai saw investment worth 281.959 billion yuan flow into the real estate sector, up 18.4%on an annual basis. Within the year, 135.1658 million square meters of new hoses started construction, up 2%, and 22.54444 million square meters were completed, down 2.2%. Houses with a combined floor area of 23.822 million square meters were sold, up 25.5%. Of the sold, 20.1581 million square meters were residential housing, up 26.6%.
Sister Ports
As of the end of 2013, Shanghai had 23 sister ports, Such as Osaka and Yokohama of Japan; Seattle, New Orleans, New York City and New Jersey of the United States; Antwerp of Belgium; and Marseilles of France. The city has opened special cargo routes to major international ports.
Convention and Exhibition Sector
In 2013, the city hosted 798 exhibitions, involving a total exhibition area of 12.008 million square meters. The number of international exhibitions reached 247, with a total exhibition area of 8.745 million square meters. Altogether 208,000 exhibitors and 9.849 million visitors attended the exhibitions, including 43,000 exhibitors and 698,000 visitors from overseas.
Industrial Sector
Shanghai’s large-scale industrial enterprises, meaning those with annual revenue of 20 million yuan or above, realized an industrial added value of 676.964 billion yuan in 2013, up an annual 6.6% based on comparable prices. Industrial output of the city’s major industrial enterprises reached 3.208888 trillion yuan, up 4.4% from the previous year.
Pillar Industries
The pillar industries in Shanghai refer to manufacturing of electronic and information technology products, auto making, petrochemical and fine chemical processing, fine steel products manufacturing, production of complete equipment, and biomedicine. In 2013, the combined output of the six industries hit 2.158591 trillion yuan, up 4.5%. the amount accounted for 67.3% of the city’s total industrial output above the set scale.
Strategic Emerging Manufacturing Industries
Shanghai accelerated the development of strategic emerging manufacturing industries. A number of major projects, such as the jumbo jet, new display technologies, high-end medical equipment and lithography machine, went on smoothly. Major breakthroughs were also achieved in key national technology projects, including the new generation of mobile broadband network and important medicine invention and manufacturing. In 2013, the output of the industries’ manufacturing sector totaled 774.353 billion yuan, accounting for 24.1% of the city’s industrial output. Among the total, industrial output of biopharmaceutical sector rose by 14.9% to 83.68 billion yuan.
Industrial Production
In 2013, 99.1% of the products made by large-scale industrial enterprises in Shanghai were sold.
Output of major industrial products, such as auto, crude oil processing and power cable, registered noticeable increases.
Agricultural Sector
In 2013, Shanghai’s agricultural sector recorded an added value of 12.928 billion yuan, down an annual 2.9% calculated by comparable prices. The city’s total agricultural output value reached 32.348 billion yuan from the forestry sector, up 4.1%, 5.989 billion yuan from the fisheries sector, down 2.5% and 1.169 billion yuan from the agricultural service sector, up 7.3%.
Agricultural Products
Shanghai has sped up development of brand agricultural products. As of the end of 2013, the city had certified 4797 farm products as safe and superior, including 4,557 products in the residue-free product category and 215 products in the green product category. The city exported 1.271 billion yuan worth of agricultural products in 2013. The exported products, ranging from vegetables, flowers, edible mushrooms, fruits and special aquatic products to processed poultry products, went to countries and regions, such as japan, south Korea, Southeast Asia, the United States and Europe.
Development of Modern Agriculture
Shanghai’s agricultural production becomes more mechanized and better organized. By the end of 2013, the city’s total driving force of agricultural machinery had reached 1.1584 million kilowatts. The city had 86,500 hectares of modern cropland, 107 modern vegetable farmland, 320 standardized livestock farms and 217 standardized aquatic product raising bases. The city also had 3,200 agricultural cooperatives and 288 leading agricultural enterprises.