Shanghai: Shanghai’s GDP reached 4.47 trillion yuan ($630 billion) last year after surpassing 4 trillion yuan the previous year, and the city’s GDP per capita exceeded 180,000 yuan in 2022, reaching the level of a moderately developed economy.
The disposable income per capita of its residents rose by an average of 5 percent year-on-year, reaching 79,610 yuan.
All such figures from the midterm evaluation report of Shanghai’s 14th Five-Year Plan for National Economic and Social Development and Shanghai’s Outline for the Long-Range Objectives Through 2035 signaled that the city’s high-quality development has steadily improved. The report was delivered at a meeting of the Standing Committee of the Shanghai People’s Congress on Wednesday.
It showed that in the first two and a half years of the 14th Five-Year Plan, which started from the beginning of 2021, economic and social aspects regarding the 20 major indicators identified in the outline have made good progress, including six having reached the targets ahead of schedule.
The comprehensive strength of Shanghai as an international economic center has kept rising with the scale of its three leading industries — integrated circuits, biomedicine and artificial intelligence — reaching 1.6 trillion yuan, which made the city’s industrial strategic emerging industries account for 43 percent of the total output value of industries above designated size.
With Zhangjiang Pharma Valley as a hub, Shanghai’s biomedical industry is making all-around efforts in the research and development and industrialization of innovative drugs, high-end medical devices and new vaccines. –The Daily Mail-China Daily news exchange item
