Shanghai Tops World Again in Foreign Trade, Container Throughput Last Year
Miao Qi
DATE:  Mar 24 2023
/ SOURCE:  Yicai
Shanghai Tops World Again in Foreign Trade, Container Throughput Last Year Shanghai Tops World Again in Foreign Trade, Container Throughput Last Year

(Yicai Global) March 24 -- Shanghai’s foreign trade volume and container throughput continued to grow last year, with both sectors retaining their top rankings in the world, despite high global economic uncertainty and sluggish overseas demand.

Shanghai’s imports and exports advanced 3.2 percent last year from the year before to CNY4.2 trillion (USD610 billion), according to the 2022 Shanghai National Economic and Social Development Statistical Bulletin released by the Shanghai Municipal Government on March 22.

Container throughput at Shanghai port edged up 0.6 percent to 47.3 million standard containers, ranking first in the world for the 13th straight year. Exports jumped 9 percent year on year.

The metropolis remains a highly influential financial center. The added value of Shanghai's financial sector climbed 5.2 percent last year from 2021 to CNY862.6 billion (USD126 billion). And turnover in the city’s financial markets surged 16.8 percent to CNY2.9 quadrillion (USD428 trillion), a gain of 6.4 percentage points from 2021’s growth rate.

And more and more multinationals are setting up their regional headquarters in the city. Some 60 new regional HQs were established in Shanghai last year and 25 new foreign research and development centers, bringing the totals to 891 and 531 respectively.

Shanghai's actual use of foreign investment in 2022 exceeded USD23.5 billion, while the city's social fixed asset investment dipped 1 percent year on year. Of this, investment in the foreign-invested economy increased by 24.8 percent.

New industries are playing a big role in the city’s economy. The added value in strategic emerging industries jumped 8.6 percent year on year to CNY1 trillion (USD150 billion), accounting for 23.8 percent of Shanghai's gross domestic product.

The output of solar cells by industrial enterprises above a designated size more than doubled to 36 megawatts, while that of new energy vehicles surged 56.5 percent to 988,600 units and that of generators soared 70.3 percent to 2.6 gigawatts.

Some 178,300 patents were granted in Shanghai last year, 36,800 of which were invention patents, an increase of 12 percent year on year.

Shanghai’s GDP dipped 0.2 percent last year from the year before to CNY4.5 trillion (USD654 billion). Its GDP per capita climbed almost 4 percent to CNY180,400 (USD26,330), comparable to the Czech Republic and higher than Portugal, Saudi Arabia and Greece.

Editor: Kim Taylor

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Keywords:   Shanghai,Trade