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Shenzhen GDP up by 8.1% in first 3 quarters

The gross domestic product (GDP) generated in Shenzhen for the first three quarters of the year was 1.753 trillion yuan (US$254 billion), with an increase of 8.1 percent year-on-year, the Shenzhen Municipal Statistics Bureau announced recently.

Based on the latest data, Shenzhen’s economic development continues to grow at a steady rate, sznews.com reported over the weekend.

The added value for the primary industry was 1.58 billion yuan from January to September, up by 7.6 percent compared with the same period last year. The growth rates for the second and third sectors were 8.5 percent and 7.8 percent, respectively.

All types of industries including agriculture, fishing and farming, industrial sectors, architecture, wholesale and retail, logistics, accommodation and catering, finance, real estate and other service industries have achieved growth to different extents.

Eight out of 10 major industries in Shenzhen including IT, telecommunications, special equipment manufacturing, automobile manufacturing and medicine have achieved rather rapid growth, according to a person in charge from the statistics bureau.

Added value for the advanced manufacturing industry and high-tech industry increased by 11.1 and 11.7 percent respectively in the first three quarters, accounting for the most growth among enterprises that had an annual income of over 20 million yuan.

Investment in fixed assets citywide has increased by 18.9 percent in the first three quarters this year, according to the report. The total area of sold commercial properties grew by 11.1 percent compared to the same period last year.

According to Shenzhen Customs, the total import-export volume in the first three quarters was 2.156 trillion yuan with an increase of 9.9 percent. While the export volume dropped by 2.4 percent, the import volume hiked by 28.2 percent.

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