Shenzhen's economy expands 5.2% in Q1

Shenzhen's economy got off to a strong start in the first quarter of 2025, underpinned by solid growth in high-tech industrial output.

The BYD Explorer No. 1, a roll-on/roll-off vessel, arrives at Xiaomo International Logistics Port in Shenzhen. Photos by Xinhua

Official data released by the city’s statistics bureau today show that Shenzhen’s gross domestic product (GDP) grew to 895.05 billion yuan (US$122.62 billion) from January to March, an increase of 5.2% compared with the same period a year ago.

In the first quarter, the added value of the primary industry — agriculture, forestry, animal husbandry, and fisheries, excluding related service industries — came in at 486 million yuan, a year-on-year increase of 7.2%. 

The added value of the secondary industry — mining and quarrying (excluding mining support services), manufacturing (excluding the repair of fabricated metal products, machinery, and equipment), production and distribution of electricity, heating power, gas, and water, and construction — was 295.14 billion yuan, up 3.7% year on year. 

Workers operate at a construction site in the Shenzhen Bay Super Headquarters Base in Shenzhen. 

Lastly, the added value of the tertiary industry — the service industry and other industries not included in the primary and secondary industries — expanded 6% from a year ago to 599.42 billion yuan.

The industrial added value of enterprises above designated size, which refers to industrial firms with an annual operating revenue of 20 million yuan or more, increased by 4.2% year on year, mainly driven by robust growth in the automobile manufacturing sector.

Official figures show that among major industry categories, the added value of automobile manufacturing grew 56.3% from a year ago, general equipment manufacturing expanded 28.4% year on year, and electrical machinery and equipment manufacturing recorded year-on-year growth of 6.8%.

High-tech product output saw rapid growth in the first quarter, with production of civilian drones, industrial robots, 3D printing equipment, and charging piles increasing by 48.2%, 40.1%, 38.0%, and 11.5% year on year, respectively.

In the first quarter, Shenzhen’s foreign trade edged down 2.8% from a year ago to 990.10 billion yuan, with exports down 8.7% to 585.51 billion yuan and imports up 7.1% to 404.60 billion yuan.

Exports of high-tech products grew by 4.6%. In March, imports and exports grew 12.3% year on year to 387.05 billion, including 218.53 billion yuan in exports, up 8.8%, and 168.52 billion yuan in imports, up 17.2%.