Research on Shanghai’s Economic Influencing Factors Based on Grey Relational Analysis

Abstract

Affected by the new crown epidemic, the world economy has been in a long-term downturn, but the Chinese economy can achieve positive economic growth under this situation. As an important economic centre in China, studying the influencing factors behind Shanghai's economy is significant for improving China's economic development. This paper uses the grey relational analysis method to conduct an empirical study on the relationship between Shanghai's economic development, urban environment and other indicators. The study found a large degree of correlation between the various indicators in the index system and the economic development of Shanghai, but the correlation degrees corresponding to different indicators are different. Based on the influenced factors, this article puts forward policy recommendations for Shanghai's economic development, such as increasing environmental protection and provides a theoretical basis for promoting Shanghai's economic growth.