Tertiary sector growth gives the right impetus for Shanghai's economic future

Despite Shanghai's overall economic slowdown, the city's services industry managed to achieve an annual growth of 10.6 percent in 2015, according to the latest official data.

The city's total output value exceeded 2.49 trillion yuan ($380 billion), with a year-on-year growth of 6.9 percent, 0.1 percent higher than figures in the first three quarters and 0.1 percent lower compared to the previous year, according to a report released by Shanghai Municipal Statistics Bureau.

In particular, the tertiary industry experienced growth of 10.6 percent with a total value-added output of 1.69 trillion yuan, accounting for 67.8 percent of the city's total output value, up 3 percentage points year-on-year.