On July 25, Shanghai released its economic data for the first half of 2025. The city’s GDP reached 26.22 trillion yuan, a 5.1% increase year-on-year, matching the growth rate of the first quarter. However, Shanghai’s general public budget revenue grew by just 0.2%, while expenditures increased by 13.5%. The rate of fiscal income growth is far behind the GDP growth rate. In the first half of the year, the average disposable income per resident in Shanghai was 46,805 yuan, a 4.6% increase. Consumer prices (CPI) in the city rose by 0.1% year-on-year, remaining steady from the first quarter.J
