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Shenzhen Sets New Economic Development Target
Shenzhen City of south China's Guangdong Province is expecting a growth rate of 12 percent in its gross domestic product (GDP) next year.
The figure was announced at Tuesday's third plenary session of the Third Shenzhen City Committee of the Communist Party of China (CPC).
According to the meeting, the city's GDP will reach 182 billion yuan (US$22 billion) next year, up 12 percent from this year, and per capita GDP will be 43,300 yuan, up 11 percent.
Total industrial output of the city will rise to 291 billion yuan (in constant prices of 1990), up 17 percent, of which, high-tech industrial output value will make up 122 billion yuan, up 20 percent.
Investment in fixed assets will increase by nine percent to 67. 5 billion yuan, and exports will increase by eight percent to 36 billion yuan. A 2.7 percent rise in the inflow of overseas investment is also expected, with the volume reaching approximately three billion yuan.
Shenzhen, one of the country's earliest special economic zones (SEZs), also expects to handle 54 million tons of cargo at its ports next year, up eight percent, and to handle 4.5 million TEUs of containers, up 18.4 percent. Balanced deposit savings with the city's financial institutions will be 340 billion yuan, up 11.8 percent, and unpaid loans with these financial organizations will stand at 263 billion yuan, up 15.4 percent.
Judging from the economic performances in the first 11 months of the year, Shenzhen's GDP for this year will be 165.5 billion yuan, up 14 percent from last year, said a local official.
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