Economic News
Shanghai's GDP up 5.6% in first half of 2026 2026-07-20
Shanghai's economy grew 5.6 percent year-on-year in the first half of 2026, according to data released by the Shanghai Municipal Bureau of Statistics on July 20. The city's GDP reached about 2.79 trillion yuan ($412 billion) during that period.
The added value of the secondary and tertiary industries increased by 4.7 percent and 5.9 percent, respectively.
Emerging industries support industrial growth
Shanghai's industrial added value increased by 5.6 percent year-on-year in the first half of 2026.
The manufacturing output value of the city's three leading industries grew by 14.5 percent. Integrated circuit manufacturing increased by 19.5 percent, artificial intelligence manufacturing by 21.8 percent, and biopharmaceutical manufacturing by 7.2 percent.
The output value of strategic emerging industries in the industrial sector rose by 7.7 percent. The output values of the new energy vehicle, new energy, and high-end equipment industries grew by 33.9 percent, 20.6 percent, and 9.3 percent, respectively.
Among industrial enterprises above designated size — those with annual main business revenue of at least 20 million yuan — the output value of railway, shipbuilding, aerospace, and other transport equipment manufacturing increased by 15.6 percent year-on-year.
Modern services maintain momentum
The added value of the tertiary industry increased by 5.9 percent in the first half of the year.
The added value of financial services grew by 10.2 percent, while that of information transmission, software, and information technology services increased by 9.1 percent.
Emerging service sectors also provided strong support. From January to May, revenue from integrated circuit design and internet platforms increased by 24 percent and 12.5 percent, respectively.
Investment grows, led by industrial and high-tech sectors
Shanghai's fixed asset investment increased by 6.8 percent year-on-year in the first half of 2026.
Industrial investment grew by 19.2 percent, outpacing overall fixed asset investment growth by 12.4 percentage points. Investment in urban infrastructure rose by 18.8 percent, while investment in high-tech industries increased by 36 percent.
Driven by the growth of Shanghai's three leading industries, increased spending on equipment upgrades related to intelligent models, computing power platforms, and other fields helped boost investment in information transmission, software, and information technology services by 140 percent year-on-year.
Trade in goods reaches record high
Shanghai's trade in goods reached 2.55 trillion yuan in the first half of the year, a record high for the period, up 18.6 percent year-on-year. Goods imports and exports rose by 17.4 percent and 20.1 percent, respectively.
High-tech products were a major source of growth, with their total trade value reaching 662.14 billion yuan, up 21.6 percent. Trade in electronic information products and high-end equipment increased by 20.7 percent and 26.5 percent, respectively.
Source: China Daily
