动能新 消费新 结构新 5.5%！上海前三季度经济表现超预期

Core Insights - Shanghai's GDP for the first three quarters reached 40,721.17 billion yuan, with a year-on-year growth of 5.5%, surpassing the national growth rate of 5.2% [1] Group 1: New Momentum - The industrial added value in Shanghai increased by 5.2% year-on-year, with the total industrial output value growing by 5.7% [2] - The three leading industries, namely artificial intelligence, integrated circuits, and biomedicine, saw a manufacturing output value growth of 8.5%, significantly contributing to industrial growth [2] - Artificial intelligence manufacturing output grew by 12.8%, while integrated circuits and biomedicine grew by 11.3% and 3.6%, respectively [2][3] Group 2: Structural Changes - Shanghai's total import and export value reached 3.34 trillion yuan, with a year-on-year growth of 5.4%, and exports alone grew by 11.3% [4] - Private enterprises became the main force in foreign trade, achieving an import and export total of 1.32 trillion yuan, a growth of 27.1% [4] - The share of private enterprises in Shanghai's total foreign trade rose to 39.5%, marking a significant structural change [4] Group 3: New Consumption - The total retail sales of consumer goods in Shanghai increased by 4.3% year-on-year, driven by the "old-for-new" consumption policy [6] - Retail sales in categories such as sports and entertainment, furniture, and home appliances saw significant growth, with increases of 27.7%, 22.1%, and 28.2%, respectively [6] - Investment in urban infrastructure grew by 11.7%, with notable increases in power construction and transportation infrastructure investments of 42.1% and 26.5% [6]