In Nov. 2012, the local government revenues of Shanghai Municipality amount to RMB 20.72 billion, 19.8% up in annual terms or RMB 3.42 billion more than Nov. 2011. From Jan. to Nov. 2012, the local government revenues of Shanghai Municipality amount to RMB 359.98 billion, 9.5% up in annual terms.

The double digit growth of local government revenues has been achieved because in Nov. 2012 Shanghai enjoyed stable economic development, the consumer and services markets have continued to improve, and the baseline of the previous year is relatively low. Revenues paid by the tertiary sector have risen by 25.1% annually and this sector has accounted for over 90% of the revenue increase.