In May 2014, the local government revenues of Shanghai Municipality amount to RMB 45.37 billion, RMB 5.46 billion more than the previous year, which represents an annual rise of 13.7%. During this month, the local government’s revenues have kept growing at a steady rate with the tertiary section growing faster than the secondary sector. In terms of service subsectors, finance, commerce, leasing and business services have better fulfilled their goals of contribution to the local government revenues.
From Jan. to May, the total revenues of the local government of Shanghai amount to RMB 237.69 billion, 17% up from the previous year.