Regional Economy
  • Xuhui’s Comprehensive Economic Strength Has Significantly Increased as It Keeps Promoting Industrial Transformation and Upgrade

    Adhering to the overall principle of basing advancement on stability, Xuhui has been actively adapting itself to the new normal of China’s economic development, putting more emphasis on rebalancing the economic structure, and improving the quality and efficiency of its economic development. In 2016, Xuhui’s GDP reached RMB 149.5 billion yuan, a 7.8% growth annually; it yielded a fiscal revenue of RMB 18.6 billion yuan with an annual increase of 12.3%. A continuously optimized industrial structure. The proportion of the added value of the tertiary industry in GDP accounted for 89.3% in 2016, up from 82% in 2011, symbolizing a modern service-oriented industrial structure has been established. The comprehensive service industry reform pilot has been properly implemented, with a rapid growth of the five key industries such as professional service, information service, science and technology research and development service, the financial service, as well as culture and tourist exhibition service, which resulted in a turnover of RMB 203 billion yuan, a 14.2% annual increase. Commerce and trade also achieved a steady growth. After an adjustment in business types and brand structure to promote the integrated ATL and BTL development of commerce, travel and culture, the Xujiahui commercial zone is now considered by consumers as their "favorite shopping area in Shanghai." In 2016, Xuhui witnessed a total sales revenue of commodity of RMB 447.3 billion yuan, an annual increase of 9.3%. The Industry sector is being restructured through a series of adjustments, with a steady development in the advanced manufacturing and production services, which resulted in a total output value of RMB 52.5 billion yuan from large-scale enterprises in 2016. Continuously improved economic benefits. There have been productive results in promoting industrial clusters and a layout of advanced industries including information technology, healthcare, culture and creativity, and innovative finance, contributing more greatly to the economic growth. As the headquarters economy is under dynamic development, in the past 5 years, Xuhui has used a total of contracted foreign capital of 5.27 billion US dollars and has introduced 34 headquarters of multinational corporations including MSD, which has resulted in 100 headquarters in the district and 35 office buildings of over RMB 100 million yuan in tax revenue. Xuhui has completed tasks in energy-saving emission reduction for the "12th Five-Year Plan", with a total decrease of energy consumption for value addition by 20.7%; 15 public buildings including Huijin Department Store were rated as model energy-saving projects. Considerable improvements in business and commerce. By learning and promoting the reform measures of China (Shanghai) Pilot Free Trade Zone and further reforming commercial systems such as the separation of certificates and licenses, the coverage Xuhui’s innovative systems for customs supervision, financial services and inspection and quarantine has been expanded, and the service efficiency has been improved. Xuhui will further carry out the market-oriented reform of state-owned capital and enterprises, and promote state-owned capital and enterprises to cluster into functional areas and oriented industries, with an annual rate of value maintenance and appreciation of 105%. Sub-district authorities are no longer responsible for attracting investment, and a new mechanism of industrial promotion of "functional areas + state-owned capital platform + social cooperation" has been established as a new investment attraction mode featuring precision, specialization, and market orientation. The Any Service for Enterprises platform has been established to strengthen services in human resources, financing guarantees and corporate listing, with 76 new enterprises that have listed in domestic and foreign exchanges or in the OTC market in the last 5 years.

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  • Economic development

    Total economy The Gross Domestic Product (GDP) was 95.667 billion yuan at constant prices, an increase of 7.8% YoY, 0.1 percentage points faster than the growth in the same period last year. The value adding for the secondary industry was 17.19 billion yuan, down 2.1 percent; the tertiary industry, 78.477 billion yuan, up 10.2%, accounting for 82% of the region’s GDP, or 1.2 percentage points higher YoY, making the ratio between secondary and tertiary industry 20% to 80%. Fiscal revenue and expenditure The total fiscal revenue was 27.002 billion yuan, an increase of 11.8% YoY. District-level fiscal revenue was 10.006 billion yuan, an increase of 12.5 percent, ranking first among the nine downtown districts. The total tax revenue was 25.336 billion yuan, an increase of 12.7%. The modern service, commerce, real estate and industrial sectors accounted for 90% of total tax revenue. The modern service industry registered a tax revenue of 10.121 billion yuan, up 22.3 percent; commerce, 5.296 billion yuan, an increase of 12.8%; real estate, 4.436 billion yuan, an increase of 13.8%; industrial sector 2.944 billion yuan, down 11.4%. The annual district-level financial expenditure was 11.932 billion yuan, an increase of 20.2%. Modern service industry In 2011, the annual value adding was 34.394 billion yuan, an increase of 14.4% YoY, contributing 63.1% to the district’s economic contribution, or 4.9 percentage points of the region’s GDP growth. Operating income was 104.529 billion yuan, breaking the 100 billion mark, an increase of 16.1%. The tax revenue was 10.121 billion yuan, passing the 10 billion mark, an increase of 22.3%. The was good momentum for key industries, with rapid growth for information, professional, scientific research, financial services sectors, with operating income accounted for 91%. Culture and tourism exhibition service sectors grew steadily, with a 7.4% increase in operating income and flat tax revenue compared to last year. Industry In 2011 the value adding was 11.932 billion yuan, down 0.9% over the same period last year. The annual industrial output was 64.839 billion yuan, an increase of 4.2 percent YoY. The above-scale industrial output was 63.208 billion yuan, an increase of 3.3%. The industrial output of annual high-tech industry was 24.272 billion, an increase of 2.7%, accounting for 38.4% of above-scale industries. Communications equipment manufacturing, the biggest sector of high-tech industry, maintained steady growth. Computer, pharmaceutical and general instrument manufacturing sectors, while small, grew rapidly. The annual total profit of above-scale industrial enterprises was a 5.239 billion yuan, an increase of 5.9%. Commerce Wholesale and retail trade registered 16.727 billion yuan in value adding, an increase of 10.6% YoY. Accommodation and catering industry realized an added value of 3.861 billion yuan, an increase of 10%. The total annual sales of goods reached 219 billion yuan, an increase of 18%. The total retail sales was 39.546 billion yuan, an increase of 12.3%. Among them, the wholesale and retail trade saw a retail sales of 34.571 billion yuan, an increase of 11.1%. The brand structure optimization and adjustment of the Grand Gateway Plaza led to significant growth in sales in Xujiahui, which achieved a total retail sales of 7.971 billion yuan, an increase of 11%. The Grand Gateway Plaza’s sales grew substantially by 23.7%, with total sales leading other shopping malls. Emerging business models in the consumer market were developing rapidly, with good momentum for e-commerce, TV shopping, discount stores, etc. The sales of Fast Retailing and Acorn International was 2.9 billion yuan and 500 million yuan, an increase of 68.4% and 54.8% respectively. Real estate industry In 2011, the real estate value adding was 7.098 billion yuan, an increase of 12.3 percent over the same period last year. The annual property development investment was 10.466 billion yuan, down 24.7%; commercial housing construction area was 4,555,500 square meters, an increase of 19.3%; completed area was 1.1245 million square meters, an increase of 259.1%. Annual sales of commercial housing was 390,600 square meters, an increase of 40.3%. Among them, the sales of commercial residential houses was 248,900 square meters, an increase of 18.7%. Existing home sales was 634,800 square meters, down 29.8%. Tourism The district received 10 million tourists, including 580,000 overseas visitors; with a total tourism income of 10.5 billion yuan. Xuhui is creating a demonstration area for national tourism standardization. It has 18 Class A travel agencies, including one 5A agency, two 4A agencies, 14 3A agencies. Two star tourist hotels and 14 green tourist hotels were certified; 10 three-star or below tourist hotels passed the second review. The Shanghai Botanical Garden was designated as a 4A scenic spot. Tourism standardization pilot project achieved initial results with five Gold-plate tourist restaurants, 10 Silver-plate tourist restaurants and 20 Copper-plate ones. Six stores were designated as Tourist Shopping Model Shops, and five as Recommended Tourist Stores. 15 tourist hotels underwent energy-saving technological transformation with a total investment of over 5 million yuan, which saves 500 tons of standard coal each year. It also successfully provided accommodation for the 14th FINA World Championships, receiving a total of 3293 athletes, coaches and media people from 169 countries and regions.

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