Is the Shanghai economy stable?

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Is the Shanghai economy stable?

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Statistics experts, and consistent with the national situation, exports rebounded since the second half of this year to Shanghai’s economic operation has maintained steady growth in one of the important reasons. From the export structure, Shanghai general trade exports increased by 1.7%, processing trade exports fell 10.4%, processing trade and general trade shift, showing that Shanghai’s industrial structure in the low-end labor-intensive processing industry to reduce the proportion, Quality and higher efficiency of the industry instead.

In the service sector, this year, Shanghai has maintained a rapid growth rate in the first quarter of Shanghai’s tertiary industry accounted for the proportion of GDP for the first time more than 70%. In the market consumption, 1-8 months of total retail sales of consumer goods increased by 7.9%, reflecting the true data of the market consumption of key data, Shanghai and the country in recent years have maintained steady growth.

The author pointed out that the social service industry in Shanghai cultural and entertainment industry profits plummeted, in order to explain the development of Shanghai social services problems. However, in the first seven months of this year, leasing and escort shanghai business services accounted for half of the social services sector, operating profit increased by 1.6%, accounting for 10% of the scientific research and technical service industry operating profit growth of 55.5%; and culture, sports and entertainment Industry operating profit of 240 million yuan, accounting for social services operating profit of two thousandths, its profit decline in the overall profitability of the service industry can be negligible. Statistics experts pointed out that the culture, sports and entertainment industry is to meet the people’s spiritual and cultural needs, profit is not its main purpose, while 1-7 months in the field of operating income increased 24%, indicating that culture, sports, entertainment prices, But the industry is thriving and serves more people than ever before.

Shanghai’s economic growth for the relies on real estate argument, the statistical data also prove that the lack of basis for judgments. In August this year, subject to a number of market factors, the Shanghai housing prices did appear a relatively fast rise. But in August Shanghai new commercial residential sales area of 1.5577 million square meters, down 2.7%; 1-8 months, the city’s new commercial residential sales area increased 9.1% growth rate down 1.9 percentage points.
Shanghai real estate industry’s role in driving the economy in the end how high? The first half of this year, the Shanghai real estate industry added value in the city’s GDP accounted for 6.3%, down 0.5 percentage points last year. The growth rate of added value of the real estate industry is also slowing down. In the first half of this year, the value-added of the real estate industry was 82.131 billion yuan, up 6.9 percent year-on-year, 0.3 percentage points lower than the same period last year and 2.1 percentage points lower than last year. From the data, the Shanghai economy in the stock market, real estate declined in the case of steady growth, indicating that the real economic foundation is still solid, good momentum of development. For example, the tertiary industry in Shanghai, the first half of information transmission, software and information technology services value-added growth is much higher than the real estate industry, second only to the financial industry, the Internet and the integration of all walks of life development, supporting the formation of new economic growth power.
From the statistics department of industry, consumption, foreign trade, investment and other core data, the Shanghai economic operation from January to August remained stable in the second half since July, some indicators have declined, but in August was warmer, the short-term Fluctuations have not changed the trend of steady macroeconomic growth this year. At the same time, the Shanghai economy and the country is similar to the smooth in the face of various pressures and challenges, such as manufacturing is still in the throes of transformation and upgrading, the scale of emerging industries is still relatively limited, the international economic environment is still not optimistic about the recent housing prices Rapid rise is also the economic operation of the problem is difficult to avoid. Faced with the problem, Shanghai insisted on innovation, deepening reform, to push forward the supply side structural reform, complement the short-term stability of the economy.

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