Pudong's first three quarters GDP grows 6.4% on emerging industries
Shanghai's Pudong New Area's GDP reached 1.45 trillion yuan ($215 billion) in the first three quarters, up 6.4 percent year-on-year and 0.3 percentage points faster than in the first half, according to the district's statistics bureau on Oct 27.
The secondary sector grew by 6.5 percent, while the tertiary sector rose by 6.4 percent. Industrial added value increased by 7.6 percent, with auto manufacturing up 16.2 percent, new energy manufacturing up 35.6 percent, and complete equipment manufacturing up 13.5 percent.
Services also provided strong support. Finance grew 9.2 percent, information transmission, software and IT services 10.2 percent, and scientific research and technical services 8.5 percent. Online retail by enterprises above the designated size, each with at least 20 million yuan in annual revenue, rose 11.3 percent to 89.4 billion yuan, while revenue from culture, sports and entertainment jumped 20.9 percent.
Fixed asset investment increased 4.9 percent, led by a 25.4 percent rise in industrial investment, with high-tech manufacturing accounting for nearly 90 percent.
Emerging industries continued to gain momentum. New energy vehicle output surged 50.3 percent, while exports of new energy vehicles, lithium batteries and solar cells rose sharply. In AI, robotics, and innovative drugs, growth in chip design, AI manufacturing, and biopharmaceutical output highlighted the expanding innovation ecosystem.
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