In May 2012, the local government revenues of Shanghai Municipality amount to RMB 37.03 billion, up 7.5% from the previous year. From Jan. to May 2012, the total local government revenues of Shanghai Municipality amount to RMB 188.43 billion, up 6.7% from the previous year, representing 50.9% of the budget goal for 2012.

During May 2012, Shanghai Municipality enjoyed steady and sustained economic growth, and positive benefits have been created by innovation-driven economic transformation, and as a result its local government revenues enjoy a steady growth which is especially apparent in some sectors including biomedicine, IT and finance.