新质生产力动能强劲，上海经济总量位居全球第五

Core Insights - Shanghai's GDP reached 56,708.71 billion yuan in 2025, growing by 5.4% year-on-year, surpassing the national growth rate after several years of lagging behind [1] - The city's economic resilience is highlighted by a steady recovery in consumption, investment, and exports, with Shanghai's growth rates exceeding national averages across all three sectors [2][3] Economic Growth - Shanghai's GDP growth of 5.4% in 2025 marks a significant recovery, positioning it as the first city in China to exceed a GDP of 50 trillion yuan [1] - The city's core functions and new industries are rapidly developing, contributing to its role as a leading economic center [1] Consumption Trends - In 2025, Shanghai's total retail sales of consumer goods increased by 4.6%, outperforming the national growth rate of 3.7% [2] - Key drivers for this growth include targeted policy measures, innovative consumer events, and a rebound in inbound tourism, with 9.36 million international visitors recorded, a 40% increase from the previous year [2] Investment Dynamics - Fixed asset investment in Shanghai grew by 4.6% in 2025, significantly higher than the national decline of 3.8% [3] - Industrial and infrastructure investments surged by 20% and 11.2%, respectively, indicating strong growth in these sectors [3] Trade Performance - Shanghai's total foreign trade reached 4.5 trillion yuan in 2025, with a growth rate of 5.6%, surpassing the national average of 3.8% [3] - Exports increased by 10.8%, with notable growth in high-end manufacturing sectors, including electric vehicles and industrial robots [3] Emerging Industries - The industrial added value in Shanghai grew by 5.0%, with strategic emerging industries contributing significantly, accounting for 45% of the total industrial output [4][5] - The three leading industries in Shanghai saw a 9.6% increase in output, with integrated circuit manufacturing and artificial intelligence growing by 15.1% and 13.6%, respectively [5] Quality of Development - Shanghai's port trade volume exceeded 11 trillion yuan, ranking first globally, while financial market transactions grew by 11.2% [6] - R&D investment as a percentage of GDP stands at approximately 4.5%, indicating a strong focus on innovation and future-oriented investments [6] Future Outlook - The "15th Five-Year Plan" emphasizes the need for Shanghai to enhance its economic resilience and transition to high-quality growth, focusing on new technologies and industries [7][8] - The city aims to foster a vibrant innovation ecosystem by optimizing the business environment and supporting small and medium-sized enterprises [8][9]