Shenzhen's GDP rose by 3% year on year in the first half (H1) of the year to 1.5016 trillion yuan (US$222 billion), achieving a steady economic growth despite COVID disruptions, the local statistics bureau said Tuesday.
From January to June, the city effectively coordinated pandemic prevention and control and economic and social development, and its economy registered a stable performance with good momentum for growth, the bureau said.
The added value of the primary industry was 1.249 billion yuan, down by 2.4% year on year. The secondary industry realized 536.69 billion yuan in added value, up 4.3% from the same period of last year while that of the tertiary industry was 963.74 billion yuan, up 2.3%.
Data showed that in H1, the total added value of industrial enterprises above designated size (with annual sales over 20 million yuan) grew 5.9% year on year, 3.6 percentage points higher than the figure between January and March.
Among all the industries, the added value of car manufacturing above designated size rose by 91.1% year on year.
The output of major high-tech products posted a sustained and rapid growth momentum. The output of new energy vehicles, charging poles, 5G smart phones and civilian drones rose by 174%, 164%, 67% and 28.8%, respectively.
Fixed asset investment from January to June went up by 14.7% year on year, 9.8 percentage points higher than the first quarter.
Specifically, industrial investment achieved a robust increase during the period, rising by 50.8% year on year. Investment in manufacturing and real estate development went up 45.9% and 10.5%, respectively.
Investment in high-tech manufacturing increased by 51.9%, with investment in electronic and communications equipment manufacturing, and information transmission, software and information technology services growing by 70% and 54.5%, respectively.
The total retail sales of consumer goods increased 13% year on year, the highest growth rate of the year, indicating a speedy rebound in the consumption market. Among all the goods, retail sales of vehicles increased by 36.2%, up 32.3 percentage points compared with May.
From January to June, the city’s total retail sales of consumer goods amounted to 448.3 billion yuan, flat from a year earlier, while online retail sales continued to grow rapidly.
In the past six months, the total import and export volume posted an increase of 1.4% year on year to 1.615 trillion yuan, 4.2 percentage points higher than the first quarter.
Exports showed a rising trend by going up 7.1% year on year to 914.25 billion yuan. However, imports dropped by 5.2% to 701 billion yuan.
The CPI rose 2.3% year on year, with costs in education, culture and entertainment surging 3.6%, followed by food, cigarettes and alcohol at 2.4%.