长三角经济新观察（三月）：价格承压，人形机器人引领新动能

Economic Overview - The CPI for Shanghai, Anhui, Jiangsu, and Zhejiang in February 2025 showed negative growth of -0.7%, -0.7%, -1.1%, and -0.9% respectively, indicating a weaker performance compared to previous years[3] - In January-February 2025, the total retail sales of consumer goods in Shanghai, Jiangsu, and Zhejiang were CNY 277.74 billion, CNY 811.63 billion, and CNY 603.9 billion, with year-on-year changes of -1.0%, 5.1%, and 2.7% respectively[10] - Anhui's retail sales grew by 7.5%, accelerating by 2.1 percentage points compared to the entire year of 2024[10] Trade and Investment - In January-February 2025, Shanghai's total foreign trade amounted to CNY 645.85 billion, a decrease of 4.7% year-on-year, with exports growing by 12.7% to CNY 299.95 billion[11] - Anhui's total import and export value reached CNY 141.53 billion, up 14.8% year-on-year, with exports growing by 18%[12] - Jiangsu's foreign trade in January-February 2025 was CNY 864.28 billion, a year-on-year increase of 1.7%, with exports growing by 4.8%[14] Industrial Development - The industrial added value in Anhui and Zhejiang grew by over 8% in January-February 2025, while Shanghai's growth was only 3.6%[3] - High-tech manufacturing sectors, including computers and new energy vehicles, experienced rapid growth, with the electronic industry in Jiangsu seeing double-digit growth driven by semiconductor and AI demand[3] - In January-February 2025, 70% of industries in Anhui, Jiangsu, and Zhejiang achieved positive growth, with high-tech manufacturing and related sectors maintaining high increases[17] Robotics Sector - As of February 28, 2025, the Yangtze River Delta region had 54 listed companies in the robotics sector, accounting for over 50% of the total listed companies in this field, with a total market value of 27.6% of the robotics sector[28] - Shanghai is a leading city in the robotics industry, focusing on humanoid robot innovation, with a projected output of over 10,000 units in 2025[35] - The humanoid robot industry is rapidly developing, with significant government support and a projected increase in production capacity, marking 2025 as a potential year for mass production[27]