SHENZHEN’S gross domestic product (GDP) grew 6.3% year on year in the first half of this year (H1) to reach 1.62976 trillion yuan (US$228 billion), according to the official data released by the Shenzhen Municipal Statistics Bureau on Thursday.

The added value of the secondary industry was 568.198 billion yuan, up by 4.8% year on year, while that of the tertiary industry was 1.06 trillion yuan, up by 7.2% year on year. The city’s overall economic performance has shown a positive recovery, data showed.

Industrial production steadily rebounded in H1. The added value of industries above a designated size — enterprises with an annual revenue of 20 million yuan or more — increased by 3.9% year on year.

The added value of the auto industry increased by 89.7%. The production of major high-tech products continued to grow rapidly, with the production of new energy vehicles and charging piles increasing by 170.2% and 32.6%, respectively.

Fixed-asset investment rose by 13.1% year on year in H1, data showed.

The city’s market sales posted strong recovery, with the total retail sales of consumer goods going up 11.5% year on year to reach 500.02 billion yuan.

There was a modest rise in consumer prices, which grew by 1.0% compared to the same period last year. Among them, the prices of food, tobacco and alcohol increased by 3%, while that of housing decreased by 0.2%. Prices of education and entertainment increased by 2.5%, while health care prices increased by 0.1%.

(SD News)