In the first quarter of this year, large companies in the service industry in Jiading district, Shanghai, saw a good start with rapidly growing operating revenue.
Operating revenue at companies above designated scale grow by 30.4%
In the first quarter, Jiading district had 295 companies above designated size in the service sector, with total assets of 54.2 billion yuan, for an increase of 19.9 percent year on year.
They reached 5.29 billion yuan in operating revenue, for a 30.4 percent year-on-year growth, and a total of 12 million in profits, up 150.9 percent from last year.
In terms of industry, enterprises in transportation and warehousing saw 1.81 billion yuan in operating revenue in total, up 19.7 percent year on year.
Leasing and commercial service firms earned 1.79 billion yuan, 30.1 percent more than last year.
Information transmission, software, and IT businesses realized a total operating revenue of 760 million yuan, up 113.1 percent from 2013.
In terms of region, 78 service companies in the district’s Nanxiang county reached operating revenue of 1.68 billion yuan, a year-on-year growth of 18.6 percent.
And Jiading Industrial Park had 42 companies with total operating revenue of 1.13 billion yuan, up 98.9 percent from last year.
The district’s Anting town saw 39 companies reaching 940 million yuan, a year-on-year growth of 37.7 percent.
Business in the three areas accounted for 31.8 percent, 21.4 percent, and 17.7 percent, respectively, of the district’s overall service sector.
High-tech service business earns 1.28 billion yuan
In the first quarter, 54 high-tech service businesses in Jiading district earned 1.28 billion yuan in revenue, accounting for 24.2 percent of the district’s total, for an increase of 52.8 percent year on year.
The rapid growth of those companies in the first quarter can be attributed to the fact that some of the companies were started in 2013. Among them, nine companies gained revenue of over 10 million yuan each, a growth of 100 percent or more.
It is expected that the growth rate later this year will slow down as their businesses become stable.
Edited by Lin Hong and Nelly Min