Shanghai is an economic center of the country with significant growth for many years in a row. In 2018, Shanghai’s GDP reached USD 471.8 billion, first amongst all cities in China. GDP per capita was USD 19,000 reaching the level of medium-developed countries. Once the cradle of China’s modern industry, Shanghai remains a hub of China’s advanced manufacturing industries and strategic emerging industries. Such sectors as new generation information technology, biomedicine, and new energy vehicles are growing rapidly.

Having formed a service-dominated economic structure, Shanghai boasts a tertiary sector contributing 69.9% of the GDP in 2018. Modern service industries such as finance, trade, and commerce have become major drivers of the city’s development and trade in service has been the national leader for many years, accounting for more than 30% of the national total. The advanced service sector has offered rich and convenient choices to citizens living and working in this city. Just like “Made in Shanghai”, “Service in Shanghai” is also becoming a new hallmark of the city.