Shanghai Comapany Registration Service
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In 2013, Shanghai sustained a steady and progressive economic growth amid double impact of external challenges and the city’s own development difficulties. Following the principle of innovation and economic restructuring, Shanghai pressed its head in boosting economic growth, remodeling economic structure, deepening reforms and improving people’s livelihood. The city’s GDP totaled 2.160212 trillion yuan, up 7.7% over the previous year in terms of comparable prices.
Shanghai Economic Strength - Economic Strength
The city’s per capita GDP, calculated by the long-term resident population and the then exchange rate, jumped over the US$5,000 mark in 2004 and surged above the US$10,000 mark in 2009. In 2013, it reached us$14,547, which was about the level of a medium-developed country or region.
Shanghai Economic Strength - Fiscal Revenue
The city’s fiscal revenue has witnessed constant growth. It stood at only 16.922 billion yuan in the late 1970s when China initiated the reform and opening up policy. In 2013, Shanghai’s local fiscal revenue amounted to 410.951 billion yuan, 9.8% higher than the previous year.
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Shanghai Economic Strength - Tax Reform
Shanghai is the first provincial region in China to implement the pilot business tax to value-added tax reform. The reform’s positive effect further proved itself after two-year implementation. In 2013, the pilot policies extended from the original transport and modern services to broadcasting and film industries, bringing more structural tax cuts. Since the reform was launched, altogether 195,000 companies joined the pilot program to switch their business tax into VAT, with a total tax cut of more than 40 billion yuan.
Shanghai Economic Strength - Shanghai’s Contribution to the Nation
Shanghai plays an important role in the nation’s social and economic development as the international metropolis-oriented city is striving to lead the growth of the Yangtze River Delta region. With only 0.0+% of the nation’s land area, Shanghai contributes 3.8% of China’s GDP. The volume of cargo containers handled at local ports accounts for 17.8% of the nation’s total, and the value of imports and exports at Shanghai Customs accounts for 19.5% of the nation’s total.
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