Shanghai's GDP September 2022

According to the latest data released by the local statistics bureau of Shanghai, the aggregated GDP in the first three quarters of 2022 reached RMB 3.1 trillion, down 1.4% year on year, compared to the January-June contraction of 4.3 percentage points.

The primary industry added value decreased by 0.7% from a year ago to RMB 5.574 billion, while secondary industry added value reached RMB 782.208 billion, a downtrend of 4 %, and lastly, the tertiary industry added value dropped by 0.5 percent points to RMB 230.788 billion.

During the first three quarters of 2022, the city’s three key industries, integrated circuits, artificial intelligence, and biomedicine, combined, contributed to an industrial production increase of 11.9 %.

During January-September, the city recorded retail sales of consumer goods totaling RMB 1.186 trillion, down 10.7% over the same period last year, but narrowing from the decline in January-June by 5.4 percentage points.

Data showed that Shanghai's economy had entered a stabilization phase compared to the municipality's significant negative impact during the second quarter of 2022 when the city stopped most of its economic activities due to the lockdown.