SZ's thriving economy draws in population growth

Population serves as a vital metric for gauging urban development. Despite a national decline in overall population figures, Shenzhen continues to witness an upsurge, underscoring its robust economic appeal.

Recent statistics reveal that Shenzhen's population stood at 17.79 million by the close of 2023, marking a boost of 128,300 individuals from the preceding year, signaling an influx in population growth.

As China's youngest first-tier city, Shenzhen sustains its allure for population migration. The surge over the past two years has allayed concerns stemming from the negative population trend observed in 2022, when a deviation of 20,000 from 2021 marked an unprecedented dip in Shenzhen's history.

This population influx epitomizes the city's appeal. Shenzhen's GDP soared to 3.46 trillion yuan (US$477.48 billion) in 2023, with key indicators like industrial output, fixed investments, market sales, and foreign trade showcasing consistent expansion.

In 2023, the industrial added value and total output value for large enterprises in Shenzhen clinched the top national rankings, with small-scale enterprises witnessing a 9.4% growth in added value, fostering a conducive employment environment.

Liu Guohong, deputy dean of the China Development Institute (CDI), said that the reversal of Shenzhen's negative population growth underscores its resilience and draws global interest. The city's appeal to talent, employment capacity, and urban amenities will continue to yield dividends in demographics and talent retention.

By the end of 2023, Shenzhen accommodated nearly 12.56 million employed individuals, marking a surge of 196,000 from the previous year. Employment and entrepreneurial subsidies worth 1.5 billion yuan were disbursed, benefiting 1.22 million beneficiaries. Notably, the city organized over 300 online and offline job fairs between January and April, offering over 253,000 positions.

The service industry emerges as a pivotal player in job creation. In 2023, Shenzhen spearheaded initiatives to bolster domestic consumption, focusing on cultivating premier international commercial hubs, aggregating global business resources, diversifying consumption landscapes, and nurturing novel consumption patterns.

Senior CDI consultant Liu Jiandang attributes Shenzhen's population growth to its rapid economic upswing in 2023. 

The city’s human resources and social security bureau recently unveiled plans to foster job growth through a five-year agenda centered on the top 10 livelihood projects. It aims to inject 185,000 new urban roles, accentuating modern technologies, industries, and commercial models, alongside key investments and ventures. Furthermore, it seeks to onboard 30,000 high-skilled professionals and 2,000 postdoctoral researchers to bolster the city's workforce.