Industrial News
City’s economy realizes moderate but stable growth in Jan.-April |
2022-06-02
Despite facing some downward pressures due to the complex international environment and COVID-19 resurgence in March, Shenzhen’s economy achieved a moderate but stable growth from January to April, according to data released by the city’s statistics bureau Tuesday night.Data showed that in the first four months of the year, the total added value of industrial enterprises above designated size (with annual sales over 20 million yuan,
Intl. investment promotion platform launched |
2022-06-02
Shenzhen officially inaugurated an international investment promotion platform at Shum Yip Showroom in Futian District on May 26, the city’s commerce bureau announced.The platform, which is the first of its kind, is collaboratively established by the municipal and district governments and is being operated by Shenzhen International Investment & Promotion Association, a nonprofit organization. The city’s commerce bureau and the Fu
SZ’s trade with RCEP countries hits ¥279.1B |
2022-05-26
Shenzhen's foreign trade with the other 14 Regional Comprehensive Economic Partnership (RCEP) member countries reached 279.1 billion yuan (US$41.82 billion) in the first four months of this year, up 1.5% year on year and accounting for 27% of the city’s total trade.Exports between Shenzhen and RCEP members reached 96.59 billion yuan, an increase of 8.1% percent year on year.Among export products, mechanical and electrical product
Lending rate cut to boost support for economy |
2022-05-23
China cut the market-based benchmark lending rate Friday, the latest move to shore up the economy.The over-five-year loan prime rate (LPR), on which many lenders base their mortgage rates, fell by 15 basis points to 4.45%, said the National Interbank Funding Center. It represents the largest reduction in this rate since the country revamped the LPR mechanism in 2019.The one-year LPR stood at 3.7%, unchanged from one month earlier.The
Online shopping festival rakes in sales over ¥5B |
2022-05-19
The fourth online shopping festival generated more than 5 billion yuan (US$740.7 million) in online sales in Shenzhen, with 90% of transactions for physical commodities, the city’s commerce bureau said yesterday.Over the 15-day promotional campaign that started April 28, Shenzhen’s key e-commerce platforms that participated in the program reported over 40 million orders, with the total transactions exceeding 3.7 billion yuan and 95%
Relief funds available for catering enterprises |
2022-05-13
Application for Shenzhen government rewards to catering enterprises has opened, over a month earlier than initially anticipated.The incentive program was originally scheduled to open July 1, but was moved to May “so that the city’s catering enterprises can enjoy the benefits brought about by the government’s relief efforts,” according to a notice issued by the municipal commerce bureau earlier this week.The bureau released an applica
37B yuan in taxes cut for firms |
2022-05-13
Authorities in Shenzhen cut more than 37 billion yuan (US$5.5 billion) in fees and taxes for local enterprises in April following the implementation of a slew of policies to help ease the financial distress of business entities, Shenzhen Special Zone Daily reported.Shenzhen Samcien Semiconductor Materials Co. is one of the enterprises that have enjoyed tax benefits. In the first quarter of the year, it encountered unprecedented opera
Guangdong’s foreign trade exceeds ¥8T for first time |
2022-05-13
Guangdong's foreign trade moved up another notch in 2021 by exceeding 8 trillion yuan (US$1.18 trillion) for the first time despite growing headwinds in global trade, according to a press conference held by the provincial government information office in provincial capital Guangzhou on Thursday.The total value of Guangdong’s imports and exports rose by 16.7% year on year to 8.27 trillion yuan in 2021, 1.2 trillion yuan more than
April rail-sea exports see double growth |
2022-05-12
A train carrying toys departed from a yard in Longchuan, in the city of Heyuan, Guangdong Province, and headed to Yantian Port on Tuesday, marking the official operation of the ninth inland port under Shenzhen Port’s sea-rail mode.The 21,200-square-meter yard in Longchuan, a sub-regional center in the city of Heyuan, can accommodate 2,000 TEUs (twenty-foot equivalent units). Under the sea-rail transportation mode, exporters in Longch
April SZ-HK cargo turnover up 72% |
2022-05-11
The cross-border cargo throughput between Shenzhen and Hong Kong reached more than 6,900 TEUs (twenty-foot equivalent units) a day on average in April, up by 72% over March and 1.34% over April last year.Since March 14, the city has implemented a transfer-at-the-checkpoint operation mode, where inbound Hong Kong truck drivers hand over their cargo to mainland drivers who will complete the transport of goods to inland cities. The Hong