Shenzhen Government Online
City’s economic recovery remains stable
From: Shenzhen Daily
Updated: 2021-09-28 09:09

Shenzhen's economy has maintained a stable recovery momentum, with its industrial added value of enterprises above designated scale increasing 6.4 percent between January and August year on year, according to the local statistics bureau.

Among the 37 industrial sectors, 33 realized positive growth in added value. Seven out of the top 10 sectors realized two-digit growth. Among them, the added value in general equipment manufacturing, electrical machinery and equipment manufacturing, and instrument manufacturing increased by 24.6 percent, 20.5 percent and 18.7 percent, respectively.

Between January and August, Shenzhen’s fixed asset investment went down by 2.4 percent year on year but increased by 7.6 percent over that of 2019.

Investment in non-real estate development projects rose 8.7 percent, 24 percentage points higher than that in real estate development.

Investment in education, and transportation, warehouse and postal services increased by 45.6 percent and 27.8 percent, respectively.

Investment related to high- tech services increased greatly. Among them, investment in science research and technology services, and information transmission, software and information technological service increased by 16.4 percent and 10 percent, respectively.

Consumption continued to drive up economic growth. Total retail sales of consumer goods expanded 17.4 percent to 614.9 billion yuan (US$95 billion) in the January-August period. The revenue of the catering industry increased by 22.4 percent.

According to statistics from Shenzhen Customs, the total import and export volume of the city hit 2.18 trillion yuan between January and August, up 15.9 percent from the same period last year.

Exports were valued at 1.16 96 trillion yuan, up 12.9 percent, while imports reached 1.01 trillion yuan, up 19.6 percent. The trade volume of private enterprises took up 61.6 percent of the total.

Revenue in the city government’s general public budget went up 12.5 percent to reach 297.45 billion yuan in the first eight months of the year, while the general public budget expenditure rose by 14.8 percent to 285.1 billion yuan.

Expenditure in nine categories relating to residents’ well-being increased by 16.1 percent, weighing 68.7 percent of the total budgetary expenditure. Expenditure in social security and employment, housing, health, and education increased by 53 percent, 34.4 percent, 21.6 percent and 19.1 percent, respectively.

The consumer price index rose mildly by 0.4 percent in the first eight months year on year.