Aerial photo taken on Aug 13, 2020 shows a view of Shenzhen, south China's Guangdong province. (MAO SIQIAN / XINHUA)
Shenzhen’s gross domestic product reached was about 706.46 billion yuan ($108.14 billion) in the first quarter, growing two percent year-on-year, according to the latest statistics released by the government late on Wednesday.
The industrial value-added in Shenzhen increased 2.3 percent from January to March compared with the same period a year earlier. High-tech products achieved remarkable growth over the period, with production of new-energy vehicles surging 195.4 percent, charging piles by 150.3 percent, and 5G smartphones by 51.3 percent.
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High-tech products achieved remarkable growth over the period, with production of new-energy vehicles surging 195.4 percent, charging piles by 150.3 percent, and 5G smartphones by 51.3 percent
Fixed-asset investment grew 4.9 percent on a yearly basis in the first quarter. Among them, investment in the manufacturing sector rose 52.9 percent; electricity, heat, gas, water production and supply was up 33.6 percent; information transmission, software and information technology services increased 40.5 percent; and health and social work grew 84 percent.
The total value of retail sales in Shenzhen stood at 210.73 billion yuan in the first three months, down 1.6 percent year-on-year, as the coronavirus outbreak early in the year weighed on the sector. While commodity sales grew 0.5 percent, catering revenue dropped by 17.3 percent.
In foreign trade, total exports and imports in Shenzhen declined by 2.8 percent to 740.48 billion yuan in the first quarter. Exports were 407.66 billion yuan, down 2.6 percent from a year earlier, while imports were 332.82 billion yuan, down 3.1 percent.
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