Today is
You are here : Home > Business Overview

Business overview

( ) 2020-04-06

Business overview

A corner of Jiading district in Shanghai [Photo/]

Facing the global COVID-19 pandemic in 2020, the Jiading district of East China's Shanghai city has nevertheless given top priority to steady growth and showed a great deal of resilience in seeking stable economic development.

Resumed normal work and production

In light of the novel coronavirus pandemic, the value of total output of Jiading's manufacturers above a designated size - those with annual revenues of 20 million yuan ($3.08 million) or more - decreased 7.7 percent year-on-year to 534.17 billion yuan in 2020, although the rate of decline narrowed by 7.1 percentage points in the final quarter, compared with the first three quarters of the year.

Jiading's auto industry handled the situation robustly, generating an annual output value of 367.61 billion yuan, down 9.9 percent year-on-year, with the Q4 rate of decline narrowing by 8.7 percentage points compared with the January to September figure. The annual output value of Jiading's car components manufacturing industry totaled 188.01 billion yuan.

In December, the total industrial output value of Jiading's auto industry expanded by 12.3 percent year-on-year to 34.14 billion yuan, while the car components manufacturing industry achieved a total industrial output value of 23.2 billion yuan, a year-on-year increase of 23.4 percent.

Booming service sector

In 2020, 468 service enterprises above a designated scale in Jiading achieved an operating revenue of 94.4 billion yuan, up 10.5 percent year-on-year.

Transportation, information transmission and scientific research and technology services reported sharp growth last year. Statistics showed that the scientific research and technology services sector achieved a total operating revenue of 26.1 billion yuan, growing 53 percent year-on-year, while the operation revenue of the transportation, warehousing and postal services industry grew by 14.3 percent year-on-year to 26.73 billion yuan.

Fostered new growth drivers

Official data showed that the gross industrial output value of Jiading's strategic emerging industries was 122.77 billion yuan, accounting for 23 percent of the district's total industrial output value above a designated size.

In 2020, Jiading's three pillar emerging industries valued at over 100 billion yuan – the auto manufacturing industry, intelligent sensor and internet of things and the high-performance medical equipment and precision medicine sector – reported total output value of 125.49 billion yuan, growing 29.7 percent year-on-year.

The online economy prospered with new dynamics, thanks to government policy support. Statistics showed that the total output of Jiading's online economy hit 272.34 billion yuan last year, a year-on-year growth of 16.8 percent.

Expanded investment in fixed assets

Jiading realized a total of 42.97 billion yuan in fixed asset investment in 2020, up 18.3 percent year-on-year, of which private investment increased 75 percent year-on-year to 18.71 billion yuan.

The four major investment areas - industry, real estate development, infrastructure, and social undertakings - showed differing trends. Industrial investment grew 21.2 percent year-on-year to 10.84 billion yuan, while investment in real estate development decreased 12.7 percent year-on-year to 21.17 billion yuan. Investment in infrastructure and social programs declined significantly, with values of 2.09 and 1.03 billion yuan, respectively down 24.4 and 26.9 percent year-on-year.

Slight fall in foreign trade

The total value of Jiading's foreign trade was 117.59 billion yuan in the January to November period, a year-on-year decrease of 4.9 percent.



Jiading Fahua Pagoda

The Fahua Pagoda, 40.8 meters tall, is a square, brick-wood structure with seven stories, accessible by ladders.