Shanghai: The output value of the three leading industries in the manufacturing industry increased by 13.8% in the first two months of this year.

Journalists learned at a press conference held in Shanghai on the 13th that new industries, new formats, and new drivers are growing faster in Shanghai, and new productive forces are being nurtured. In the first two months of this year, the output value of the three leading industries in manufacturing, namely artificial intelligence, integrated circuits, and biomedicine, increased by 13.8%. "Overall, the economic operation of Shanghai has started off powerfully and is steadily improving," said Wu Wei, member of the Standing Committee of the Shanghai Municipal Committee and Executive Deputy Mayor. In the first two months of this year, the total retail sales of consumer goods in the city increased by 7.2%, and the total fixed asset investment increased by 7.4%; the total import and export volume in the first quarter increased by 21.9%. Specifically, in the context of the transformation and upgrading of traditional industries, new industries, formats, and drivers in Shanghai are growing faster, and new productive forces are being nurtured and expanding to support and lead the steady and rapid growth of the city's economy. For example, emerging industries in manufacturing are gaining momentum. In the first two months of this year, the output value of the manufacturing industry in three leading industries, namely artificial intelligence, integrated circuits, and biomedicine, increased by 13.8%, and the output value of strategic emerging industries in industry increased by 9.9%, with new energy vehicles, new energy, and new materials growing by 47.2%, 18.6%, and 10.2% respectively. Meanwhile, the modern service industry is performing well. In the first two months of this year, the number of inbound tourists to Shanghai increased by 21.4%, and the turnover of accommodation and catering industries increased by 7.4% and 3% respectively. The information service industry, driven by large models and chip design, grew rapidly, with a 12.6% increase in operating income in the first two months. "We have preliminarily predicted that Shanghai's new foreign investment, contracted foreign investment, and actual foreign investment will continue to improve, fully showing that Shanghai is still one of the most favored destinations for foreign investment," said Shen Weihua, Director of the Shanghai Municipal Commission of Commerce. As of now, Shanghai has identified a total of 1,091 regional headquarters of multinational companies and 654 foreign-funded research and development centers.