Shanghai economy sees strong 2026 start with robust industrial growth: official

Shanghai's economy has made a sound start this year, with the city's manufacturing output in three forerunner industries, namely artificial intelligence, integrated circuits and biomedicine, up 13.8 percent year on year in the first two months, an official said on Monday.

During the period, Shanghai's total retail sales of consumer goods rose by 7.2 percent, while fixed-asset investment grew by 7.4 percent. In the first quarter of 2026, meanwhile, the city's foreign trade increased by 21.9 percent, said Wu Wei, executive vice mayor of Shanghai, at a news briefing.

The added value of Shanghai's industrial strategic emerging industries grew by 9.9 percent in the first two months, with the new energy vehicles, new energy and new materials sectors expanding by 47.2 percent, 18.6 percent and 10.2 percent, respectively.

As a major destination for foreign investment, Shanghai is now home to 1,091 multinational regional headquarters and 654 foreign-funded R&D centers, according to Shen Weihua, director of the Shanghai Municipal Commission of Commerce.