Nanshan's GDP reaches over 449.5 billion yuan in H1

The Nanshan District Statistics Bureau recently announced that, based on the unified accounting of Shenzhen’s gross domestic product (GDP), the GDP of Nanshan District exceeded 449.5 billion yuan (US$62.85 billion) in the first half of 2024, marking a 5% year-over-year growth at constant prices.

This GDP represents 26% of Shenzhen’s overall GDP, setting a record high for the same period in recent years.

The district’s secondary and tertiary industries have maintained growth, with the added value of the secondary industry exceeding 124.5 billion yuan, up 7.5% year on year. The tertiary industry contributed an added value of over 324.9 billion yuan, with a 4.1% year-on-year increase.

The district’s high-tech manufacturing sector saw an added value growth rate of 10.6%, while the computer, communications, and other electronic equipment manufacturing sector experienced a year-on-year increase of 13.4%, both reaching peak levels in recent years.

Manufacturing contributed over 60% to the industrial sector, with main products like civilian drones, 5G smartphones, and integrated circuits witnessing sustained double-digit growth in output.

The added value of information transmission, software, and information technology services exceeded 30% of the GDP. The operating income of software and information technology services surged by 27.4% year on year, demonstrating a robust monthly growth trend.

Meanwhile, lifestyle service industries are becoming increasingly vibrant, with culture, sports, and entertainment industries recording a 10.3% year-on-year increase in operating income, and the added value of transportation, warehousing, and postal services growing by 13.6% year on year.

Total fixed asset investment in the district accounted for nearly 20% of Shenzhen’s total and increased by 7% year on year. Industrial investment rose by 13.1% on a yearly basis. In addition, foreign trade and the value of industrial exports continue to expand at a double-digit rate.