PINGSHAN’S 2024 GDP experienced a year-on-year increase of 9%, the third consecutive year its growth outpaced that of other districts in Shenzhen, including Dapeng New Area.

As Shenzhen’s advanced manufacturing hub and a testing ground for future industries, Pingshan is primarily industry-oriented. In 2024, the total output value of industrial enterprises above designated size — firms with at least 20 million yuan in annual operating revenue — grew by 21.7% year on year, surpassing 600 billion yuan (US$82 billion). Over 90% of this output came from strategic emerging industries.

The added value of these large-scale industrial enterprises increased by 15.6% last year, continuing the trend of outperforming other districts in Shenzhen for the third consecutive year.

Pingshan also maintained its investment momentum, with fixed asset investment rising by 10.2% last year, the third consecutive year its growth has led other districts. Industrial investments in Pingshan totaled 56.18 billion yuan in 2024, nearly doubling compared to the previous year.

Pingshan’s industrial investments saw 28.03 billion yuan of growth in 2024, accounting for nearly 60% of the city’s total. Notably, investments aimed at upgrading technology, processes, and equipment amounted to 11.44 billion yuan, a remarkable increase of 74%.

Furthermore, Pingshan’s non-government investment in 2024 continued to grow in 2024, hitting 69.37 billion yuan, thereby increasing its share of Pingshan’s fixed asset investment to 86%. This trend reflects companies’ confidence in their development and the district’s economic prospects.

(Cao Zhen)