Shanghai's foreign trade hits record 4.51t yuan in 2025

Shanghai's foreign trade reached a record 4.51 trillion yuan ($652 billion) in 2025, up 5.6 percent year-on-year, with exports growing 10.8 percent, according to the city's government work report.

Multinational corporations (MNCs) continued to cluster in Shanghai, with the number of regional headquarters and foreign R&D centers accelerating. Notably, the number of tax-refund shops surged 136 percent to 1,837, enhancing the city's appeal for international shoppers and boosting retail trade.

The success of the 2025 China International Import Expo (CIIE) further solidified Shanghai's position as a global trade leader, achieving a record $83.49 billion in intended deals, up 4.4 percent from the previous year. Shanghai Port maintained its status as the world's largest, with a steady flow of goods and services bolstering the city's economic vitality.

In terms of specific sectors, Pudong New Area added over 100 new headquarters of various types, and its biopharmaceutical overseas licensing deals reached $25.5 billion, accounting for approximately 10 percent of the global total.

International cooperation deepened, with trade to ASEAN and Belt and Road Initiative partner countries growing by 10.4 percent and 12.1 percent, respectively. Exports of electric vehicles, lithium-ion batteries, and photovoltaic products grew 17.4 percent year-on-year.

Looking ahead to 2026, Shanghai aims to deepen its Silk Road e-commerce cooperation pilot zone, advance the Digital Economy Partnership Agreement cooperation zone, and enhance collaboration with BRI partners, while continuing to optimize its business environment for global enterprises.