SHENZHEN’S economic resurgence remained robust throughout the initial 10 months of the year, according to data released by the Shenzhen Municipal Statistics Bureau last week.

Notably, the added value of industries at and above the designated scale increased by 4.8% year on year during this period. Among the key industry categories, automotive manufacturing registered 59.3% surge in added value, followed by electricity and heat production and supply at 15.5%, and specialized equipment manufacturing at 10.5%.

The output of new energy vehicles and service robots increased by 117.7% and 34.3%, respectively.

Fixed asset investment increased by 13.7% year on year during the first 10 months of the year. Investments in the secondary industry grew by 50.5% year on year, while investments in the tertiary industry saw an increase of 6.3% during the same period.

Manufacturing investment played a significant role in the first 10 months, with an increase of 63.2%. Investments in real estate development and high-tech manufacturing increased by 14.5% and 71.3%, respectively.

The city’s retail sector also contributed significantly, with total retail sales of consumer goods surpassing an impressive 856 billion yuan (US$120 billion) from January to October, posting a year-on-year growth of 7.3%.

Consumer prices in the city experienced a modest 0.9% year-on-year increase from January to October, demonstrating stability in the overall price levels.

Shenzhen’s foreign trade reached 3.16 trillion yuan in the first 10 months of the year, growing 6.4% year on year. Exports, in particular, rose by 14.4% to reach 2.02 trillion yuan.

By the end of October, the balance of domestic and foreign currency deposits in financial institutions, including foreign-funded institutions, reached about 13.25 trillion yuan, up by 11.1% year on year.

(Wang Jingli)