(Yicai) Oct. 23 -- Shanghai’s gross domestic product expanded 6 percent in the first three quarters of the year, faster than the national average, with high growth logged by the semiconductor-based storage device and new energy vehicle sectors.

The city’s GDP rose to CNY3.3 trillion (USD453 billion) in the nine months ended Sept. 30, according to data released by the local statistics bureau. China’s GDP gained 5.2 percent to CNY91.3 trillion (USD12.5 trillion) in the same period, figures showed last week.

The output value of Shanghai’s NEVs, renewable energy, and high-end equipment industries jumped 42 percent, 35 percent, and 10.9 percent, respectively. Production of SSDs surged 120 percent, that of NEVs soared 43 percent, and that of 3D printers rose 29 percent.

Boosted by policies and initiatives to steady growth, Shanghai’s economy showed a strong resilience and vitality in the first nine months, said an insider at the city’s statistics bureau. Now it needs to expand demand and spur the vitality of businesses, the person added.

In the digital economy, Shanghai’s revenue from information transmission, software, and information technology services rose 17.6 percent in the first eight months, while related investment surged 58 percent, the figures showed. Income from scientific research and technology services climbed 12 percent, with investment soaring 49 percent.

Shanghai’s investment in fixed assets increased 25 percent in the nine months. Industrial investment climbed 14 percent, real estate investment jumped 25 percent, and urban infrastructure investment rose 15.2 percent, all higher than the national average.

The city’s retail sales of consumer goods stood at nearly CNY1.4 trillion, up 16.1 percent.

As China’s largest city by foreign trade, Shanghai’s imports and exports rose 2.7 percent to CNY3.2 trillion, while the national figure dipped 0.2 percent. Exports alone jumped 3.9 percent, while imports climbed 1.8 percent, with high growth in outbound shipments of electric vehicles, lithium batteries, and solar cells.

Editor: Martin Kadiev