FUTIAN’S GDP is estimated to have reached 415 billion yuan (US$61.53 billion) in 2018, growing 7.5 percent year on year, according to the district government report delivered by Gao Shengyuan, head of Futian District Government, at the district’s people’s congress, which opened Jan. 14.

It marks the first time Futian’s economy has broken the 400 billion yuan mark. GDP and tax revenue per kilometer reached 5.28 billion yuan and 2.15 billion yuan, respectively. The number of buildings with companies paying at least 100 million yuan in tax last year reached 86, the highest number for any central business district in China. These figures mean the quality of the district’s economic growth has continued to rise.

Retail sales of consumer goods reached 178 billion yuan, accounting for 30 percent of the city’s total and topping the city for 14th consecutive year, according to the report.

The district government regards innovation as an important driving force behind higher-quality growth and sustainable development. Futian has introduced an experimental future network facility project, the Guangdong Southern Quantum Technology Institute, and other innovative projects.

Futian rolled out 22 reform measures to improve the business environment in 2018. The district took the lead in implementing the “Shenzhen 90” reform, which shortens the time needed for government approval by 30 percent. A total of 82 government-invested projects were implemented by contracting with a third party following the introduction of a reform measure, which shortened the time needed to complete the projects by at least half.

Futian opened a green channel for the registration of important overseas-funded companies, which has enabled such a registration to be approved within one workday. A total of 2,303 overseas-funded enterprises were established in 2018, surging 156 percent from the previous year. Actual foreign investment in the city reached US$1.25 billion, growing 56.8 percent year on year. The district established a friendly exchange relationship with Puglia, Italy, bringing the total number of such ties with foreign districts or cities to six, the highest among all districts in Shenzhen.

In 2018, Futian saw a marked improvement in the living environment. Fourteen new featured parks, including the International Botanical Congress Park, were built, bringing the total number of parks in the district to 123. The Toilet Revolution has led to 27 public toilets being renovated. A lighting project that unites 43 buildings in the CBD in a choreographed light show has made Shenzhen’s central business district more lively and attractive at night.

Last year, the district spent 19 billion yuan to improve the quality of life, an increase of 15 percent year on year, the report says. A total of 4,200 new school seats were provided after the construction of two new campuses and the renovation of some existing schools. In 2019, the district will complete the construction or renovation of 27 schools, adding at least 4,000 new school slots.

According to Gao’s report, Futian will focus on the construction of Shenzhen-Hong Kong Technology Innovation Cooperation Zone and the Xiangmihu new financial center. It will step up efforts in nurturing fintech and improving the financial ecological system in a bid to strengthen its position as a regional financial center. (Lin Min)