According to a report in China Daily on February 5, 2026
Shanghai has set an ambitious GDP growth target of around 5 percent for 2026, signaling the city’s commitment to steady expansion while navigating evolving global and domestic economic conditions.
The target follows stronger-than-expected growth in 2025, when Shanghai’s GDP rose 5.4 percent year-on-year to 5.67 trillion yuan ($814.6 billion), according to the city government.
Economists say the target reflects Shanghai’s strategic and pragmatic approach. “Setting growth at around 5 percent balances stability with the need for structural adjustment and high-quality development,” said Lu Ming, director of the Shanghai Institute for National Economy at Shanghai Jiao Tong University.
Domestic consumption is expected to play a central role in driving economic growth this year. The city plans to expand emerging sectors such as the debut economy, nighttime economy, livestreaming economy, and silver economy, while promoting integration across culture, tourism, commerce, sports, and exhibitions. Measures to facilitate inbound tourism, departure tax refunds, and cross-border payments are also aimed at boosting spending by foreign visitors.
In 2025, Shanghai welcomed 9.36 million inbound tourists, up nearly 40 percent from the previous year, setting a new record for the city.
Shanghai also plans to stabilize foreign trade and attract investment into advanced manufacturing, high-tech industries, modern services, and energy conservation and environmental protection sectors. Last year, the city’s total imports and exports reached 4.51 trillion yuan, up 5.6 percent, while foreign investment inflows totaled $16.06 billion. Additionally, more multinational firms established regional headquarters or research centers in Shanghai.
Technological innovation and emerging industries remain key growth drivers. The city aims to strengthen its position as an international science and technology hub, promoting the integration of technological and industrial innovation to cultivate new productive forces. In 2025, R&D expenditure accounted for roughly 4.5 percent of Shanghai’s GDP.
By setting a balanced growth target and emphasizing consumption, innovation, and investment, Shanghai aims to maintain momentum as a global financial and economic powerhouse amid shifting domestic and international landscapes.