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SZ economy maintains stable momentum

From: Shenzhen Daily

| Updated: 2021-12-29 09:12

Shenzhen's economy has maintained a stable recovery momentum, with its industrial added value of enterprises above the designated scale between January and November increasing 4.8 percent year on year, according to the local statistics bureau.

Among the 37 industrial sectors, 30 realized positive growth in added value. Five 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 17.3, 14.6 and 14.6 percent, respectively.

Between January and November, Shenzhen’s fixed asset investment went down by 0.6 percent year on year but total retail sales of consumer goods expanded 11.8 percent to 864.1 billion yuan (US$135.65 billion) in the January-November period.

The total foreign trade volume hit 3.16 trillion yuan in the first 11 months, up 15.1 percent year on year, exceeding last year’s 3.05 trillion yuan. The exports increased by 12.6 percent to 1.71 trillion yuan and imports rose by 18.2 percent to 1.45 trillion yuan.

Household appliance exports reached 65.78 billion yuan in the first 11 months, up 9.8 percent year on year. Shenzhen Customs statistics showed that these products were mainly exported through general trade amounting to 23.3 billion yuan or 35.3 percent, and bonded trade amounting to 8.47 billion yuan or 36.2 percent of the total exports. The U.S., EU and Japan were the three major destinations for Shenzhen’s household appliance exports, which reached 20.2 billion, 13.5 billion and 3.86 billion yuan, respectively.

Investments in non-real estate development projects rose 12.4 percent, while investments in real estate projects decreased by 16.4 percent.

Investments in scientific research and technological services increased by 55.9 percent, while those of electricity, gas, water and heat production, and supply projects increased by 33.3 percent. Investments in education and transportation, warehouse and postal service sectors increased by 31.6 and 21.3 percent respectively.

The city government’s general public budget revenue went up by 8.5 percent, reaching 387.12 billion yuan in the first 11 months of the year, while general public budget expenditure rose by 9.3 percent to 404 billion yuan.

Expenditures in nine categories related to residents’ well-being increased by 13.2 percent, accounting for 70.5 percent of the total budgetary expenditure. Expenditures in social security and employment, health and education increased by 54.1, 21.1 and 15.1 percent, respectively.

The consumer price index (CPI) rose slightly by 0.8 percent in the first 11 months, year on year.