From January to October this year, the added value of industrial enterprises above designated size increased 6.2% year on year, data from the Shenzhen Municipal Statistics Bureau showed.
The city has taken measures to stabilize the economy, and its economy has sustained the momentum of recovery and growth, the bureau said.
In terms of sectors, the added value of auto makers above designated size went up by 112.1% year on year, while the fuel and natural gas sector went up by 6.7%. In China, industrial enterprises above a designated size refer to companies with an annual operating revenue of at least 20 million yuan (US$2.79 million).
New driving forces empower Shenzhen’s economic growth, with the output of high-tech products went up. The production of new energy vehicles, charging poles, 5G smartphones and civilian drones increased by 212.7%, 124.4%, 35.4% and 31.4% year on year, respectively.
Fixed-asset investment from January to October rose by 10.1% year on year, while industrial investment showed robust growth at 31.3%.
In terms of fixed asset investment by industry, the secondary industry has increased by 24%, while the tertiary industry increased by 6.7%.
In October, market sales saw rapid growth, with consumer goods retail sales up by 8.4%, 3.3 percentage points higher than September.
The total retail sales of consumer goods from January to October reached 796.48 billion yuan, up by 2.4% year on year, and 0.7 percentage points higher than that of the first nine months.
The city’s foreign trade grew 6.1% year on year to 2.97 trillion yuan in the first 10 months. Exports reached 1.77 trillion yuan, up by 21.1% year on year, while imports dropped by 6.7% to 1.2 trillion yuan.
The city’s consumer price index (CPI) in the first 10 months showed an increase of 2.3% compared to the same period last year, but saw a slight decrease of 0.1 percentage points than that of the first nine months.