Industry dynamics of March 2023

Updated: Mar 31,2023 3:57 PM

All the 102 tasks of the "Shanghai Program" of the three leading industries have landed - The resilience and vitality of Shanghai's economic development continue to emerge

On March 22nd, the ‘Statistical Bulletin of Shanghai National Economic and Social Development in 2022” was released. On the whole, Shanghai's economy has withstood an unprecedented severe test, and its economic operation resilience has increased, showing a trend of stabilization and improvement.


According to the data disclosed in the Bulletin, Shanghai's total economic output continued to rank first among China’s national economic center cities in 2022. The actual use of foreign capital exceeded US$23.5 billion, which reached a record high. The numbers of regional headquarters and foreign-funded R&D centers of multinational corporations increased by 60 and 25 respectively, with a total of 891 and 531. Innovative enterprises have accelerated their growth, adding 243 state-level specialized and innovative "Little Giant" enterprises, and more than 22,000 high-tech enterprises within the validity period. Shanghai's development vitality continues to show.


In 2022, the new driving force of Shanghai's industrial growth continued to exert its strength, and all 102 tasks of the "Shanghai Program" of the three leading industries of integrated circuits, biomedicine and artificial intelligence landed. The manufacturing output value of the three leading industries in Shanghai increased by 11.1% over the previous year. The added value of strategic emerging industries such as new energy, high-end equipment, biology and new materials was RMB1,064.119 billion, an increase of 8.6% over the previous year, and the added value of strategic emerging industries accounted for 23.8% of Shanghai's GDP. Among them, the output of new products such as solar cells, new energy vehicles, industrial robots and integrated circuit wafers achieved rapid growth, with growth rates of 120%, 56.5%, 7.1% and 5.5% respectively.


Financial reform and innovation have achieved new breakthroughs


Against the background of increasing global economic uncertainties and weakening external demand, Shanghai's trade continued to grow last year.


In 2022, the total import and export volume of goods trade at Shanghai Port reached RMB10.4 trillion, accounting for about 3.6% of the global total, keeping the first place among worldwide cities. The development of new international trade has been accelerated, with the list of offshore economic and trade enterprises expanding to 577, the demonstration enterprises of international distribution centers expanding to 100, and the number of overseas warehouses supporting the layout reaching 110. The container throughput of Shanghai Port reached 47.303 million international TEUs, ranking first in the world for 13 consecutive years. The water transfer volume of containers exceeded 25 million TEUs, up 9.3% year-on-year.


Last year, Shanghai held 41 roundtable meetings on government-enterprise communication, and successfully held the 2022 Shanghai City Promotion Conference. The actual use of foreign capital in Shanghai exceeded US$23.5 billion, which reached a record high. In 2022, the total investment in fixed assets in Shanghai decreased by 1% compared with the previous year, but the economic investment of foreign investment increased by 24.8%.