In the first half of 2012, the local government revenues of Shanghai Municipality amount to RMB 215.85 billion, RMB 13.74 billion more than the previous year, or up 6.8% in annual terms, representing 58.3% of the budget goal for 2012.

During this period, the local government revenues of Shanghai Municipality have shown a steady growth. Financing and other services have made a significant contribution: financing, IT service, leasing and commerce account for half of the growth. Meanwhile, industrial restructuring has created more and more benefits. Now key industrial sectors such as automotive, IT, whole-set equipment and biopharmaceuticals have accounted for 20% of the growth of the local government revenues of Shanghai Municipality.