Per capita GDP in Shenzhen to reach US$20,000 by 2020

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Last updated at: (Beijing Time) Tuesday, September 23, 2003

Per capita GDP in Shenzhen to reach US$20,000 by 2020

Per capita gross domestic product (GDP) in Shenzhen Special Economic Zone is expected to reach more than US$20,000 in 2020, competing with Hong Kong, Singapore and other major metropolises in Asia.

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Per capita gross domestic product (GDP) in Shenzhen Special Economic Zone is expected to reach more than US$20,000 in 2020, competing with Hong Kong, Singapore and other major metropolises in Asia.

Xu Zongheng, executive vice-mayor of Shenzhen, said the municipal government plans to build the city into a major financial and trade centre in the Asia-Pacific region; and by 2020, the city's GDP would touch 1,550 billion yuan (US$186.75 billion).

To this end, it has been planned that GDP should grow at an average of 11.6 per cent annually between 2004 and 2020.

The city's GDP is projected to increase at an average of 14 per cent from 2004 to 2010; and about 10 per cent annually between 2011 and 2020.

Meanwhile Shenzhen's industrial production is estimated to reach 2,050 billion yuan (US$246.99 billion) in 2020, with an average growth of 14.4 per cent annually from next year.

Speaking at a forum on Shenzhen's economic development recently, Xu said Shenzhen would focus on improving the city's competitiveness to help achieve its goal.

Meanwhile, Shenzhen would further improve ties with the neighbouring cities in the Pearl River Delta; Hong Kong and Macao to reach reciprocity in economic development in the following years, Xu said.

Liu Jiasheng, director of the Shenzhyen Municipal Bureau of Urban Planning, said the city would speed up construction of infrastructure facilities, particularly projects linking Shenzhen to Hong Kong and other Pearl River Delta metropolises.

Construction began last month on the Western Corridor which connects Shekou in Shenzhen with the western part of Hong Kong.

A bridge project which links Shenzhen's Huanggang Port to Hong Kong's Lok Ma Chau Checkpoint will also be completed by the end of 2004.

The Huanggang Subway Station of Shenzhen Metro Line and the exit and entry checkpoint building will be completed in 2006.

Meanwhile Liu said Shenzhen would try to give additional impetus to the construction of the long-waited Zhuhai-Macao-Hong Kong cross sea bridge, the High Speed Guangzhou-Shenzhen Railway, the new Guangzhou-Shenzhen Expressway and the light railway network in the Pearl River Delta.

Shenzhen's economic ties with Guangzhou, Zhuhai, Dongguan, Foshan, Huizhou, Jiangmen and Zhongshan will be expanded when the region's expressway and railway links are further improved.

The Huanggang Subway Station of Shenzhen Metro Line and the exit and entry checkpoint building will be completed in 2006.

Meanwhile Liu said Shenzhen would try to give additional impetus to the construction of the long-waited Zhuhai-Macao-Hong Kong cross sea bridge, the High Speed Guangzhou-Shenzhen Railway, the new Guangzhou-Shenzhen Expressway and the light railway network in the Pearl River Delta.

Shenzhen's economic ties with Guangzhou, Zhuhai, Dongguan, Foshan, Huizhou, Jiangmen and Zhongshan will be expanded when the region's expressway and railway links are further improved.

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