Shanghai's GDP grew by 4.7% in the first three quarters of the year, reaching 3.44 trillion yuan ($482 billion), according to official sources. 
 
The city's economy showed a stable performance over the nine-month period, with key indicators improving and living standards rising, according to data released on Wednesday via the Shanghai Municipal Statistics Bureau.
 
According to the local statistics bureau, in the first three quarters of the year, Shanghai's primary industry saw a 5.5% increase in added value, reaching 6.1 billion yuan. The secondary industry grew by 1.2% to 803.3 billion yuan, while the tertiary industry experienced a 5.8% rise, totalling 2.6 trillion yuan, China Daily reports. 
 
During the same period, the city's industrial added value for designated size enterprises, those with annual revenues of 20 million yuan or more, grew 1.3% year-on-year, a 0.3 percentage point improvement compared to the first half of the year.
 
In addition, between January and September, the total industrial output of Shanghai's three leading industries grew by an average of 8.6% year-on-year. Among these, integrated circuit output surged by 20.8%, artificial intelligence output increased by 3.2%, while biomedicine output remained flat. 
 
Over the same timeframe, Shanghai's fixed-asset investment rose by 6.7% year-on-year, with industrial investment up by 10.9% and real estate development investment increasing by 7.8%. However, sales of new commercial housing by gross floor area declined by 5.9% year-on-year. 
 
Furthermore, in the first three quarters of the year, Shanghai's total retail sales of consumer goods declined by 3.4% year-on-year, amounting to 1.33 trillion yuan.  
 
The consumer price index remained generally stable compared to the previous year. Meanwhile, the city's per-capita disposable income increased by 4.2% year-on-year, reaching 66,341 yuan during the same period.