Wang Jingli

wangjingli0715@163.com

LUOHU District is setting its sights on surpassing 150 billion yuan (US$20.75 billion) in retail sales of consumer goods this year by fully tapping into the potential of consumption and services, as announced during a news conference in Luohu on Saturday.

This was the second news conference about district-level high-quality development held by the Information Office of the Shenzhen Municipal Government.

In 2023, Luohu’s service sector accounted for 94.2% of its GDP, ranking it as the city’s district with the highest proportion of service industry. There is still a lot of potential for its development quality, Zuo Jinping, head of the Luohu District Government, said during the conference.

This year, Luohu plans to introduce over six licensed financial institutions and 15 new law firms above designated size and build more than two professional buildings (parks) for the human resources industry. The district will also strive to achieve a revenue growth rate of over 50% for travel agencies and related services.

In terms of retail and shopping centers, Luohu is set to build five distinctive retail centers in the Dongmen, Shuibei, Caiwuwei, Renminnan, and Sungang areas.

The district aims to cultivate at least three local brands in fields such as gold jewelry, second-hand vehicles, and home furnishings. It will also add over 30 first stores of various kinds and promote increased participation in duty-free pilot programs to enhance cross-border consumption.

To enhance collaboration between Shenzhen and Hong Kong, Luohu plans to renovate the Luohu Checkpoint to optimize efficiency and improve the experiences of cross-border travelers.

The district will build a consumer medical complex covering medical cosmetology, stomatology, traditional Chinese medicine services, and physical examination institutions near checkpoint areas.

The district is also set to build a demonstration park for Shenzhen-Hong Kong industrial cooperation in the Renminnan area and partner with Hong Kong to develop supply chain and cross-border e-commerce trade platforms in the Liantang Checkpoint area.

Luohu’s future development will focus on the three key strategic new emerging industries of software information and technology services, modern fashion, and health. Moreover, it will further optimize its business environment by allocating 1 billion yuan to help enterprises grow.

To enhance people’s well-being, Luohu will add 4 kilometers of greenways, increase the capacity of schools by 4,000 seats, install 25,000 EV charging piles, and build 99 EV supercharging stations this year.

This April, Luohu District held an investment promotion conference for its four development areas that cover a total of 133 hectares, which include 126 hectares of land for investment.