Spotlight falls on Shanghai economic transformation

City's slowing economic figures reflect shift to make service sector a new priority, which starts to bear fruits

The economic transformation of Shanghai, China's business hub, is a major issue facing the world's second-largest economy, as members of the country's top legislature and political advisory body meet in early March.

Major economic indicators such as GDP growth and trade volumes outpaced central government targets in the Yangtze River Delta region in 2012, with the exception of Shanghai.