In Oct. 2012, the local government revenues of Shanghai Municipality amount to RMB 37.92 billion, which represents an annual rise of 25.1%, or RMB 7.6 billion more than Oct. 2011. From Jan. to Oct. 2012, the total local government revenues of Shanghai Municipality amount to RMB 339.25 billion, up 9% from the previous year.

The significant annualized growth of 25.1 has been achieved mainly because in Oct. 2012 the local economy of Shanghai is on a steady rise, the second and tertiary sectors have grown remarkably, and the baseline of the previous year is relatively low.