In 2024, the real gross domestic product (GDP) of Shanghai municipality in China increased by around *** percent from the previous year. Shanghai is the most populous city in China and has the largest GDP of all Chinese cities. It is located in Eastern China on the southern estuary at the mouth of the Yangtze river. Development of GDP growth in Shanghai As a bridgehead to global markets and a forerunner in market opening, Shanghai experienced a decades long economic boom, which massively changed the shape of the city. Economic growth rates had double digits for more than two decades since 1992 and were well above the Chinese national average. This changed fundamentally with the global financial crisis. In 2008, the growth rate fell below ten percent and gradually declined thereafter. Growth rates now got closer to the national average of GDP growth. While the economic development in Shanghai has already reached a high level, other regions in China are catching up, and growth rates in many inland regions of China are now higher than in Shanghai. This is especially true on a city level, with many lower-tier cities experiencing higher growth rates than Shanghai. Sector distribution of GDP growth Upon closer examination of the distribution of GDP across economic sectors, it becomes obvious that the service sector of the economy exhibited the highest growth rates in most of the recent years. In 2024, services already accounted for more than ** percent of the value added to the GDP, which is far above the national average. In contrast, the industrial sector, which had once been of great importance to Shanghai's economy, is losing momentum and its share in total economic output is shrinking constantly. Financial intermediation and information industries were branches in the service sector that displayed the fastest growth rates in recent years.

GDP: Shanghai data was reported at 5,392.671 RMB bn in 2024. This records an increase from the previous number of 5,140.447 RMB bn for 2023. GDP: Shanghai data is updated yearly, averaging 51.814 RMB bn from Dec 1949 (Median) to 2024, with 76 observations. The data reached an all-time high of 5,392.671 RMB bn in 2024 and a record low of 2.028 RMB bn in 1949. GDP: Shanghai data remains active status in CEIC and is reported by Shanghai Municipal Bureau of Statistics. The data is categorized under China Premium Database’s National Accounts – Table CN.AE: Gross Domestic Product: Prefecture Level City.

In 2024, the gross domestic product (GDP) of Shanghai municipality in China amounted to approximately 5.39 trillion yuan. Shanghai is the most populous city in China and has the largest GDP of all Chinese cities. It is located in Eastern China on the southern estuary at the mouth of the Yangtze river. Development of GDP in Shanghai The GDP of Shanghai has previously grown at a high pace, but economic development has gradually lost momentum over the years. GDP growth in Shanghai, which developed very close to national figures in recent years, ranged at 5.0 percent in 2024. From a sectoral point of view, the tertiary sector of the economy displayed the highest growth rates in most of the past years and services already account for more than 75 percent of the value added to the GDP. In contrast, the share of the industrial sector, which had once been of great importance to Shanghai, has been shrinking in most of the years. Branches in the service sector of the economy that experienced the fastest development were financial intermediation and information industries. Per capita GDP in Shanghai Set in relation to the population size of the city, the economic success of its inhabitants becomes apparent. Per capita GDP of Shanghai citizens exceeded 20,000 U.S. dollars on average for the first time in 2019, which is in the global middle field and well above the average in East Asia. However, when comparing it to other cities or regions, it has to be taken into account that the administrative area of Shanghai municipality is quite large and includes distant suburbs as well as villages on agrarian land. For this reason, Shanghai’s per capita GDP is quite high and only second to Beijing when it is compared on a provincial level in mainland China. However, when compared on a city level, with other Chinese cities often having smaller administrative areas not including distant suburbs, Shanghai’s per capita GDP ranks only within the leading 10 cities.

GDP: Shanghai: Secondary Industry data was reported at 1,163.757 RMB bn in 2024. This records an increase from the previous number of 1,161.297 RMB bn for 2023. GDP: Shanghai: Secondary Industry data is updated yearly, averaging 35.020 RMB bn from Dec 1949 (Median) to 2024, with 76 observations. The data reached an all-time high of 1,163.757 RMB bn in 2024 and a record low of 0.956 RMB bn in 1949. GDP: Shanghai: Secondary Industry data remains active status in CEIC and is reported by National Bureau of Statistics. The data is categorized under China Premium Database’s National Accounts – Table CN.AA: Gross Domestic Product: Shanghai.

GDP: Shanghai: Qingpu data was reported at 144,008.000 RMB mn in 2023. This records an increase from the previous number of 133,445.000 RMB mn for 2022. GDP: Shanghai: Qingpu data is updated yearly, averaging 15,647.915 RMB mn from Dec 1980 (Median) to 2023, with 44 observations. The data reached an all-time high of 144,008.000 RMB mn in 2023 and a record low of 271.730 RMB mn in 1980. GDP: Shanghai: Qingpu data remains active status in CEIC and is reported by Shanghai Municipal Bureau of Statistics. The data is categorized under China Premium Database’s National Accounts – Table CN.AI: Gross Domestic Product: Municipality District.

GDP: Shanghai: Xuhui data was reported at 285,358.000 RMB mn in 2023. This records an increase from the previous number of 255,790.000 RMB mn for 2022. GDP: Shanghai: Xuhui data is updated yearly, averaging 116,261.500 RMB mn from Dec 2004 (Median) to 2023, with 20 observations. The data reached an all-time high of 285,358.000 RMB mn in 2023 and a record low of 45,079.000 RMB mn in 2004. GDP: Shanghai: Xuhui data remains active status in CEIC and is reported by Shanghai Municipal Bureau of Statistics. The data is categorized under China Premium Database’s National Accounts – Table CN.AI: Gross Domestic Product: Municipality District.

GDP: per Capita: Shanghai data was reported at 179,900.000 RMB in 2022. This records an increase from the previous number of 173,600.000 RMB for 2021. GDP: per Capita: Shanghai data is updated yearly, averaging 3,850.000 RMB from Dec 1949 (Median) to 2022, with 74 observations. The data reached an all-time high of 179,900.000 RMB in 2022 and a record low of 274.000 RMB in 1949. GDP: per Capita: Shanghai data remains active status in CEIC and is reported by Shanghai Municipal Bureau of Statistics. The data is categorized under China Premium Database’s National Accounts – Table CN.AE: Gross Domestic Product: Prefecture Level City: per Capita.

GDP: Shanghai: Pudong New data was reported at 1,671,515.000 RMB mn in 2023. This records an increase from the previous number of 1,601,340.000 RMB mn for 2022. GDP: Shanghai: Pudong New data is updated yearly, averaging 257,936.000 RMB mn from Dec 1990 (Median) to 2023, with 34 observations. The data reached an all-time high of 1,671,515.000 RMB mn in 2023 and a record low of 6,024.000 RMB mn in 1990. GDP: Shanghai: Pudong New data remains active status in CEIC and is reported by Shanghai Municipal Bureau of Statistics. The data is categorized under China Premium Database’s National Accounts – Table CN.AI: Gross Domestic Product: Municipality District.

The per capita GDP contribution of Shanghai amounted to around ******* yuan in 2023, up from ******* yuan in the previous year. Shanghai is one of the largest cities in China. In terms of GDP, it was also the Chinese city with the largest GDP contribution, followed by Beijing and Shenzhen. Shanghai's economic development Shanghai’s GDP growth rate ranged at *** percent in 2023, slightly below the level of Chinese national GDP growth. As the leading city in the Yangtze River Delta Economic Zone, Shanghai is one of the most active cities for business and trade in China. While the share of the industrial sector in Shanghai’s GDP continues to shrink, the city’s economy is becoming increasingly reliant on the service sector. In 2013, the first free-trade zone in Mainland China was launched in Shanghai, making Shanghai play an essential role in China’s economic reforms. A friendlier investment environment, less tax burdens and a more open financial market for foreign companies were expected to be promoted there. Living in Shanghai Shanghai became world famous when it was recognized by the Europeans in the 19th century for its economic potential as an important harbor city. Today, it is still one of the most open and active cities in China. Migration from across China and other countries makes Shanghai a melting pot of different cultures, which can also be found in its diverse catering industry. In terms of housing prices, it’s one of the most expensive cities in China. Still, the colorful life and plentiful opportunities are attracting numerous young people to come to the city for study and work.

Gross Domestic Product (GDP): per Capita: Shanghai data was reported at 190,321.000 RMB in 2023. This records an increase from the previous number of 180,536.000 RMB for 2022. Gross Domestic Product (GDP): per Capita: Shanghai data is updated yearly, averaging 3,956.000 RMB from Dec 1949 (Median) to 2023, with 75 observations. The data reached an all-time high of 190,321.000 RMB in 2023 and a record low of 274.000 RMB in 1949. Gross Domestic Product (GDP): per Capita: Shanghai data remains active status in CEIC and is reported by National Bureau of Statistics. The data is categorized under China Premium Database’s National Accounts – Table CN.AA: Gross Domestic Product per Capita.

GDP: Shanghai: Putuo data was reported at 133,832.000 RMB mn in 2023. This records an increase from the previous number of 124,823.000 RMB mn for 2022. GDP: Shanghai: Putuo data is updated yearly, averaging 88,244.000 RMB mn from Dec 2008 (Median) to 2023, with 16 observations. The data reached an all-time high of 133,832.000 RMB mn in 2023 and a record low of 40,904.000 RMB mn in 2008. GDP: Shanghai: Putuo data remains active status in CEIC and is reported by Shanghai Municipal Bureau of Statistics. The data is categorized under China Premium Database’s National Accounts – Table CN.AI: Gross Domestic Product: Municipality District.

In 2023, Shanghai was the city with the largest GDP in China, reaching a value added of approximately *** trillion yuan. The four Chinese first-tier cites Beijing, Shanghai, Shenzhen, and Guangzhou had by far the strongest economic performance. Development of Chinese cities Rapid urbanization and economic growth have reshaped all Chinese cities since the economic opening up of China. While the first-tier cities have overall benefitted most from this development, the last two decades have seen many second-tier cities catching up. For many years already, growth rates in Qingdao, Hangzhou, Changsha, and Zhengzhou have been higher than in Shanghai or Beijing.This development was driven by lower costs in smaller cities, a specialization of their economies, and political measures to support inland cities and ease the pressure on the largest municipalities. Today, per capita GDP in cities such as Suzhou, Nanjing, and Shenzhen is already higher than in Beijing or Shanghai. Future perspectives Competition between cities will further change China’s urban landscape in the future. Medium-sized cities that can provide an attractive economic environment have the potential to grow their economy at a faster pace, attract immigration, and further increase their relative importance. Cities that are losing their competitive edge, however, like Shenyang, Dalian, and other cities in the northeastern rustbelt, are increasingly confronted by economic stagnation and demographic decline.

CN: GDP: Tertiary Industry: Shanghai data was reported at 4,218.944 RMB bn in 2024. This records an increase from the previous number of 3,550.960 RMB bn for 2023. CN: GDP: Tertiary Industry: Shanghai data is updated yearly, averaging 14.730 RMB bn from Dec 1949 (Median) to 2024, with 76 observations. The data reached an all-time high of 4,218.944 RMB bn in 2024 and a record low of 0.927 RMB bn in 1949. CN: GDP: Tertiary Industry: Shanghai data remains active status in CEIC and is reported by Shanghai Municipal Bureau of Statistics. The data is categorized under China Premium Database’s National Accounts – Table CN.AE: Gross Domestic Product: Prefecture Level City: Tertiary Industry.

GDP: Shanghai: Baoshan data was reported at 180,605.000 RMB mn in 2023. This records an increase from the previous number of 177,120.000 RMB mn for 2022. GDP: Shanghai: Baoshan data is updated yearly, averaging 69,124.560 RMB mn from Dec 1990 (Median) to 2023, with 26 observations. The data reached an all-time high of 180,605.000 RMB mn in 2023 and a record low of 1,456.890 RMB mn in 1990. GDP: Shanghai: Baoshan data remains active status in CEIC and is reported by Shanghai Municipal Bureau of Statistics. The data is categorized under China Premium Database’s National Accounts – Table CN.AI: Gross Domestic Product: Municipality District.

In 2021, the highest gross domestic product (GDP) growth rate of major cities in China had been reached in Wuhan, ranging at around **** percent per anno. This high figure was related to a rebound of Wuhan's economy stricken by COVID-19 in the previous year. GDP in Shenzhen grew by only *** percent, less than the average of major Chinese cities that year.

GDP: Changes in Inventories: Shanghai data was reported at 106.792 RMB bn in 2021. This records an increase from the previous number of 90.030 RMB bn for 2020. GDP: Changes in Inventories: Shanghai data is updated yearly, averaging 6.819 RMB bn from Dec 1952 (Median) to 2021, with 70 observations. The data reached an all-time high of 106.792 RMB bn in 2021 and a record low of -0.642 RMB bn in 1962. GDP: Changes in Inventories: Shanghai data remains active status in CEIC and is reported by National Bureau of Statistics. The data is categorized under China Premium Database’s National Accounts – Table CN.AA: Gross Domestic Product: Expenditure: by Province.

Revenue for the Water Pollution Control industry is expected to increase by 5.5% in 2024, to total $2.7 billion. In the five years through 2024, industry revenue is expected to increase at an annualized rate of 5.7% due to strong and increasing demand from private firms and the government.Demand for the Water Pollution Control industry comes mainly from governments at various levels, which are increasingly responsible for handling greater levels of pollution of inland waters and underground water.The industry has a medium profitability level at about 5.1% of industry revenue in 2024. Profitability varies among players. Those possessing core and advanced technologies for water pollution control have a higher profitability level, while those providing generic and standard services have lower profit margins.The greatest water pollution control problem in China is the difficulty in restricting pollutant discharges from polluting enterprises. Although environmental protection regulations exist, the implementation of laws and imposition of penalties tends to be weak in practice. Additionally, local governments are not motivated to sufficiently to address pollution issues under the current GDP-oriented assessment system for political achievements of officials. Furthermore, there is a lack of collaboration between different local governments, especially for cross-regional water pollution.More foreign enterprises are forecast to enter the industry in future years, and will likely be welcomed by the Chinese government. Crucially, foreign enterprises have competitive advantages in technologies. As a result, their entry into the industry will further boost the industry's technology level. As the government's management of water pollution is strengthened, industry revenue is forecast to increase at an average annualized rate of 6.5% in the next five years, to total a projected $3.9 billion in 2029.

GDP: Shanghai: Tertiary Industry: Transport, Storage and Post data was reported at 233.150 RMB bn in 2023. This records an increase from the previous number of 195.740 RMB bn for 2022. GDP: Shanghai: Tertiary Industry: Transport, Storage and Post data is updated yearly, averaging 3.151 RMB bn from Dec 1949 (Median) to 2023, with 75 observations. The data reached an all-time high of 233.150 RMB bn in 2023 and a record low of 0.150 RMB bn in 1949. GDP: Shanghai: Tertiary Industry: Transport, Storage and Post data remains active status in CEIC and is reported by National Bureau of Statistics. The data is categorized under China Premium Database’s National Accounts – Table CN.AA: Gross Domestic Product: Shanghai.

GDP: Shanghai: Primary Industry data was reported at 9.970 RMB bn in 2024. This records an increase from the previous number of 9.609 RMB bn for 2023. GDP: Shanghai: Primary Industry data is updated yearly, averaging 2.065 RMB bn from Dec 1949 (Median) to 2024, with 76 observations. The data reached an all-time high of 13.200 RMB bn in 2014 and a record low of 0.145 RMB bn in 1949. GDP: Shanghai: Primary Industry data remains active status in CEIC and is reported by National Bureau of Statistics. The data is categorized under China Premium Database’s National Accounts – Table CN.AA: Gross Domestic Product: Shanghai.

Key information about China Market Capitalization: % of GDP

• China Market Capitalization accounted for 63.4 % of its Nominal GDP in Dec 2024, compared with a percentage of 59.7 % in the previous year
• China Market Capitalization: % Nominal GDP is updated yearly, available from Dec 1995 to Dec 2024
• The data reached an all-time high of 119.3 % in Dec 2007 and a record low of 5.6 % in Dec 1995

CEIC calculates annual Market Capitalization as % of Nominal GDP from monthly Market Capitalization and annual Nominal GDP. Market Capitalization is calculated as the sum of Market Capitalization of Shanghai Stock Exchange and Market Capitalization of Shenzhen Stock Exchange. Shanghai Stock Exchange and Shenzhen Stock Exchange provides Market Capitalization in local currency. The National Bureau of Statistics provides Nominal GDP in local currency.


Further information about China Market Capitalization: % of GDP

• In the latest reports, Shanghai Stock Exchange recorded a daily P/E ratio of 13.8 in Jan 2025
• Shanghai Shenzhen 300 closed at 3,934.9 points in Dec 2024