Shanghai recorded strong economic momentum in 2025, with Shanghai’s GDP reaching 5.67 trillion yuan, according to official data released by local and national statistical authorities. The city’s economy expanded 5.4 percent year on year, exceeding China’s national growth rate of 5 percent and highlighting Shanghai’s role as one of the world’s leading urban economies.
Shanghai’s GDP Growth Surpasses National Average
The 2025 performance marks a clear improvement in Shanghai’s growth trajectory. After trailing the national average in 2023 and matching it in 2024, Shanghai moved ahead in 2025 by 0.4 percentage points, reflecting stronger resilience amid global economic uncertainty and ongoing domestic structural adjustments.
By sector, Shanghai’s economic structure continued to favor services and advanced industries:
- Primary industry value added rose 2.0 percent to 9.94 billion yuan
- Secondary industry grew 3.5 percent to 1.17 trillion yuan
- Tertiary industry increased 6.0 percent to 4.50 trillion yuan, remaining the main growth engine
This sectoral breakdown underscores Shanghai’s steady transition toward a service- and innovation-driven economy.
Industrial Investment Shifts Toward the Real Economy
A notable trend in 2025 was the reallocation of capital away from property and toward manufacturing. Industrial investment surged 20.0 percent year on year, while the sales area of newly built commercial housing declined 4.6 percent, signaling reduced reliance on real estate development.
Despite limited land availability, sustained industrial investment growth reflects Shanghai’s commitment to strengthening high-end manufacturing and reinforcing its position in China’s industrial upgrade strategy.
Advanced Manufacturing & Digital Economy Drive Expansion
Advanced manufacturing remained a key contributor to Shanghai’s GDP growth. Output value of the city’s three leading manufacturing industries rose 9.6 percent, led by:
- Integrated circuit manufacturing: +15.1 percent
- Artificial intelligence manufacturing: +13.6 percent
These gains highlight accelerating capacity expansion and Shanghai’s progress in moving up the global value chain.
At the same time, the digital economy continued to expand rapidly. Value added from information transmission, software, and IT services reached 713.99 billion yuan, growing 15.3 percent year on year, reinforcing Shanghai’s status as a national technology and innovation hub.
Financial Markets & Trade Strengthen Economic Resilience
Shanghai’s role as a global financial center also deepened in 2025. Transaction volumes across major financial markets totaled 4,058.95 trillion yuan, up 11.2 percent from the previous year. Trading volume on the Shanghai Gold Exchange surged 44.1 percent, driven by increased global risk aversion and rising demand for gold-related assets.
External trade provided additional support. Goods exports rose 10.8 percent to 2.02 trillion yuan, with strong growth in high-tech and green products. Exports of the so-called “new trio”—electric vehicles, lithium-ion batteries, and photovoltaic products—reached 160 billion yuan, up 17.4 percent, while electric vehicle exports alone increased 13.8 percent.
Shanghai’s Role in China’s Next Growth Phase
As China enters the first year of its 15th Five-Year Plan in 2026, Shanghai faces ongoing global uncertainties and structural challenges. However, the city’s 2025 performance suggests that advanced manufacturing, digital services, and financial market development will continue to underpin growth.
With Shanghai’s GDP firmly above 5.6 trillion yuan, the city remains a core national economic engine and one of the most influential global cities, offering strong signals of stability and long-term growth potential despite a complex external environment.
