SHANGHAI, April 24,
2024 /PRNewswire/ -- A news report
from english.shanghai.gov.cn:
Shanghai's economy has had a
solid start in 2024, with its gross regional product (GDP) reaching
approximately 1.11 trillion yuan
($151.82 billion) in the first
quarter of this year, marking a 5 percent year-on-year increase, as
announced by local statistics authorities on April 19.
This growth was underpinned by robust performances across key
sectors. The primary industry saw a 10.9 percent year-on-year
increase, the secondary industry experienced a 2.2 percent
increase, and the tertiary industry witnessed a 5.8 percent
rise.
The city's industrial sector exhibited a 1.9 percent
year-on-year increase in added value, with notable growth in
high-tech product-related industries.
The service industry also experienced rapid growth during the
three-month period, registering a 5.8 percent year-on-year increase
in added value, reflecting the city's diverse economic
expansion.
During the same period, Shanghai's fixed-asset investment surged by
9.2 percent. The city saw a marginal 0.1 percent year-on-year
increase in total retail sales of consumer goods, reaching
approximately 461.44 billion yuan.
Additionally, its financial market turnover amounted to
866.13 trillion yuan, marking a 15.6
percent yearly uptick.
Looking ahead, Shanghai's GDP
is expected to grow by about 5 percent this year, building upon the
momentum from last year when it reached 4.72
trillion yuan, announced Gong Zheng, mayor of Shanghai, on Jan
23.
Key highlights:
- The manufacturing industries of cultural, educational, art,
sports, and recreational products achieved a 16.5 percent increase
in output value. Additionally, laptops, lithium-ion batteries, and
microcomputer equipment experienced respective output quantity
growth of 45.7 percent, 19.8 percent, and 13.1 percent.
- The two key industries of integrated circuits and new energy
vehicle manufacturing, exhibited growth rates of 14 percent and 5
percent in output value, respectively.
- The service industry recorded a 5.8 percent year-on-year
increase in added value, propelled by growth in segments including
transportation, warehousing, postal services, information
transmission, software, information technology services, leasing,
commercial services, and finance.
- Fixed-asset investment in the city expanded by 9.2 percent
year-on-year, with urban infrastructure, real estate development,
and industrial investment all displaying positive growth.
- The financial market turnover surged by 15.6 percent
year-on-year, with significant expansions in transaction volumes of
securities, interbank markets, gold exchange, and financial futures
exchange.
- The per capita disposable income of residents increased by 4.9
percent year-on-year, with urban and rural residents experiencing
respective increases of 4.7 percent and 7.3 percent.
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SOURCE english.shanghai.gov.cn