Shenzhen economy growing steadily, rapidly

Shenzhen economy sustained steady growth for the first half of 2005, which witnessed increases in GDP, industry, commerce, foreign trade and fiscal revenue, accompanied by stable market prices, eased pressure on water and energy supply, and slowdown in the investment.

For the first six months of this year, Shenzhen' s GDP grew 14 percent over the same period of last year, 0.7 percentage points higher than in the first quarter. The added value of the first industry was down by 19.1 percent, contrasting with the 17 percent rise in the secondary industry and 8.1 percent in the tertiary industry.

By the end of June this year, the city¡¯s retailing came up to 51.59 billion yuan, up 15.4 percent over the first six months of last year as a result of acceleration every month.

The foreign trade jumped robustly and was valued at 75.825 billion USD, a year-on-year increase of 18.7 percent. The imports reached 41.271 billion USD, up 27.6 percent while the exports totaled 34.554 billion USD, spiraling up 9.7 percent compared with the same period of last year.

The exports, in particular, rose month-on-month this year. The exports in June posted 8.705 billion USD which was a historic high.

By People's Daily Online