[Offshore Company Incorporation]Shanghai's Gross Domestic Product (GDP) grew 7.5 percent year-on-year to exceed 2 trillion yuan (321.2 billion U.S. dollars) in 2012, official figures showed Monday.

The data, released by the Shanghai Bureau of Statistics, placed the city on top of all major Chinese cities in terms of economic volume, said Yan Jun, the bureau's chief economist.

[HongKong Richful  - Hong Kong Company Formation, Offshore Company Incorporation]The city's GDP reached 1 trillion yuan in 2006 and 1.5 trillion yuan in 2009.

The economic growth rate of the city also rebounded earlier than the national average, Yan said.

[HK Corporate Registration]According to Yan, the service industry contributed 6.2 percentage points, or 82.7 percent, to Shanghai's GDP growth in 2012, indicating a breakthrough in the transformation of the city's economic structure.