The Shanghai Municipal Bureau of Statistics and the Shanghai Survey Team of the National Bureau of Statistics released the report on the operation of Shanghai’s national economy in the first quarter of 2022 on April 23. The report shows that from January to February, the city’s economic operation started smoothly. However, due to the impact of the sudden epidemic in March, the economic operation in the first quarter stabilized before and then decreased, and slowed down during stability.
According to the unified accounting results of regional GDP, Shanghai’s regional GDP in the first quarter was 1,001.025 billion yuan, an increase of 3.1% over the same period last year, calculated at comparable prices.
In terms of different industries, the added value of the primary industry was 1.687 billion yuan, a year-on-year increase of 7.7%; the added value of the secondary industry was 233.804 billion yuan, a year-on-year increase of 2.4%; the added value of the tertiary industry was 765.534 billion yuan, a year-on-year increase of 3.3%. The added value of the tertiary industry accounts for 76.5% of the city’s GDP.
On the same day, the Shanghai Municipal Bureau of Statistics also interpreted the characteristics of Shanghai’s economic operation in the first quarter of 2022. According to the Shanghai Municipal Bureau of Statistics, from the performance of the main economic indicators of Shanghai in the first quarter, Shanghai’s economy has four main characteristics: First, the economic growth is stable and slowing down, and the impact of the epidemic has initially appeared. Second, the resilience of the new economy and new kinetic energy is prominent. Thirdly, the core economic functions should be played stably, and fourthly, the foreign economy should develop steadily.
In the first quarter, the city’s GDP increased by 3.1% over the same period last year
The report shows that in the first quarter, Shanghai’s economic growth fell year-on-year. Due to the sudden outbreak of the epidemic in March, the steady growth of the city’s economy in the first quarter was affected, and the growth rate declined. In the first quarter, the city’s GDP increased by 3.1% over the same period last year, and the growth rate was 1.6 percentage points lower than the two-year average growth rate in the same period last year. Among them, the added value of the secondary industry increased by 2.4%, and the growth rate dropped by 0.5 percentage points; the added value of the tertiary industry increased by 3.3%, and the growth rate dropped by 2.2 percentage points.
In the first quarter of 2021, Shanghai’s GDP was 945.886 billion yuan, an increase of 17.6% over the same period in 2020 and a 9.7% increase over the same period in 2019 at comparable prices.
The report also showed that the growth rate of some indicators slowed down.In the first quarter, Shanghai was above the scaleIndustrial added valueIt increased by 3.9% year-on-year, and the growth rate was 8.0 percentage points lower than that in January-February. The total sales of goods increased by 2.0%, and the growth rate dropped by 4.1 percentage points.whole societyFixed asset investmentThe total amount increased by 3.3%, and the growth rate dropped by 9.3 percentage points.The total retail sales of social consumer goodsFrom a 3.7% increase in January-February to a 3.8% decline in the first quarter.goodsimport and exportThe total amount increased by 14.6%, and the growth rate was 7.4 percentage points lower than that from January to February.
The output value of new energy vehicles increased by 98.2%, and the growth momentum of the digital economy continued
The new kinetic energy of the industry continues to increase. The report shows that in the first quarter, the total output value of Shanghai’s industrial strategic emerging industries increased by 13.7% over the same period last year, 8.9 percentage points higher than the total output value of industrial enterprises above designated size. Among them, the output value of new-generation information technology increased by 28.9%, and the output value of new energy vehicles increased by 98.2%. The output of some high-tech products grew rapidly. Among them, the output of smartphones, new energy vehicles and integrated circuit wafers increased by 2.5 times, 1.1 times and 15.8% year-on-year respectively.
The growth momentum of the digital economy continues unabated.The report shows that from January to February, the information transmission, software and information technology service industries above designated size in ShanghaiOperating incomeAn increase of 21.3% over the same period last year. In the first quarter, the added value of information transmission, software and information technology services increased by 10.3% year-on-year, driving the city’s economic growth by 0.9 percentage points. In the first quarter, the city’s online store retail sales increased by 18.4% over the same period last year, accounting for 22.8% of the total retail sales of consumer goods, a year-on-year increase of 7.9 percentage points.
New infrastructure-related investments are growing well. The report shows that in the first quarter, investment in scientific research and technical services related to new infrastructure in Shanghai increased by 64.8% over the same period last year, and investment in information transmission, software and information technology services increased by 50.8%.
The financial market is running smoothly, and the scale of trade is further expanded
Financial markets operate smoothly. The report shows that in the first quarter, Shanghai’s financial market turnover totaled 648.01 trillion yuan, an increase of 14.7% over the same period last year.Among them, Shanghaisecuritiestransaction pricesecurities、bankInter-market turnover increased by 19.5% and 20.5% respectively. In the first quarter, the added value of the financial industry increased by 6.6% year-on-year.
The scale of trade was further expanded. The report shows that in the first quarter, Shanghai’s total import and export volume of goods was 1.01 trillion yuan, a year-on-year increase of 14.6%, and the scale continued to maintain the forefront of the world’s cities. The city’s total merchandise sales was 4,048.274 billion yuan, a year-on-year increase of 2.0%, and its scale continued to rank first among domestic cities.
International shipping hubs operate efficiently. The report shows that in the first quarter, Shanghai’s international standard container throughput was 12.26 million international standard containers, a year-on-year increase of 8.1%. In late March, the average daily container throughput of Shanghai Port was regarding 140,000 TEUs, maintaining a high level of operation.
“Double improvement” in the scale and quality of foreign capital utilization
“Double improvement” in the scale and quality of foreign capital utilization.The report shows that in the first quarter, the whole city of Shanghaiforeign direct investmentThe actual amount in place increased by 17.8% over the same period last year. Among them, the actual amount of foreign direct investment in the tertiary industry accounted for 97.0%. There were 15 new regional headquarters of multinational companies and 6 foreign R&D centers.
Goods import and export are running well. The report shows that in the first quarter, the import and export of general trade in Shanghai increased by 14.0% year-on-year, accounting for 56.8% of the total import and export. In the first quarter, the import and export of private enterprises in Shanghai increased by 20.4% year-on-year, and the growth rate was 6.9 and 13.7 percentage points higher than that of foreign-invested enterprises and state-owned enterprises, respectively.
The Shanghai Municipal Bureau of Statistics stated that Shanghai will resolutely and decisively win the tough battle of epidemic prevention and control, scientifically coordinate epidemic prevention and control and economic and social development, and accelerate the promotion of high-quality economic and social development.
(Article source: Shanghaisecuritiesnewspaper)
