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QINGDAO TODAY
在线翻译:
szdaily -> News -> 
GDP expands 6.6% in 1st three quarters
    2019-11-06  08:53    Shenzhen Daily

SHENZHEN’S economy has maintained overall stability, with its gross domestic product (GDP) exceeding 1.86 trillion yuan (US$266 billion) in the first three quarters of 2019, up 6.6 percent over the same period last year, according to the municipal statistics bureau.


In the first three quarters of 2019, Shenzhen’s fixed asset investment went up 17.9 percent, of which infrastructure investment grew by 43.8 percent.


Investment in real estate and non-real estate development projects rose by 11.9 percent and 22.5 percent, respectively, while investment by the State sector grew by 48.8 percent, private-sector investment by 3 percent and foreign investment by 87.8 percent.


Consumption continued to drive up economic growth. Total retail sales of consumer goods expanded 6.8 percent to 477.83 billion yuan in the January-September period. Wholesale and retail sales hit 419.28 billion yuan, an increase of 6.2 percent, while the hospitality industry raked in 58.55 billion yuan, up 11.1 percent.


High technology has become a new engine of industrial growth. In the first three quarters of the year, the added value of industrial enterprises above a designated size rose by 5.3 percent.


The added value of advanced manufacturing and high-tech manufacturing grew by 7.2 percent and 8.1 percent, respectively, during the period, accounting for 71.4 percent and 66 percent of that of all industrial enterprises above a designated size.


Industrial structure has also been further optimized. A breakdown of the data shows the added value of the service sector rose by 7.4 percent in the first three quarters of the year, outpacing a 5.5-percent increase in both the primary and secondary industries.


According to statistics from Shenzhen Customs, the total import and export volume of the city hit 2.11 trillion yuan in the first nine months, down 1.8 percent from the same period last year. Exports were valued at 1.19 trillion yuan, up 4.8 percent, while imports reached 918.65 billion yuan, down 9.3 percent.


Revenue in the city government’s general public budget gained 4.6 percent to reach 293.99 billion yuan in the first nine months, while the general public budget expenditure rose by 8.7 percent to 332.92 billion yuan.


As of the end of September, local and foreign currency deposits in the city’s financial institutions had grown 11.3 percent to 8.05 trillion yuan, while the local and foreign currency loan balance jumped 11.9 percent to 5.82 trillion yuan.


(Zhang Yu)

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