data recently released by the city's statistics bureau showed that shenzhen's first-half gdp reached 755.011 billion yuan (us$123.44 billion), up by 8.4 percent compared with the same period last year.
the growth rate was higher than the national and provincial average. the city's gdp increased by 7.8 percent year on year in the first quarter, shenzhen economic daily reported.
experts said the 8.4 percent growth rate reflects the city's steady development. in the past 30 years, shenzhen's gdp saw an average annual increase of 25 percent. the figure has hovered around 10 percent in the past few years.
last year, shenzhen's gdp reached 1.6 trillion yuan. the target for 2020 is 2.6 trillion yuan, according to the report.
the city's industrial growth rate has increased by 4.9 percentage points over the past five years. the growth rate of public budget revenue is 1.8 times that of gdp. residents' per-capita disposable income, minimum wage level and the lowest living standard rank among the highest levels nationwide.
shenzhen's per-capita gdp last year was 149,500 yuan, equal to that of south korea in 2013.
statistics also point to economic structural upgrades among shenzhen's industries. in the first six months of this year, the added value of the service industries reached 440.43 billion yuan, up 9.4 percent compared to a year earlier, taking up 58.3 percent of the city's gdp. the financial industry recorded an added value of 116.05 billion yuan, a year-on-year increase of 18.7 percent.
the proportion of shenzhen's tertiary industry surpassed that of its secondary industry for the first time in 2008. specifically, finance and logistics make up an increasingly larger portion of the tertiary industry.
a ranking of the world's top 500 companies in 2015 in terms of growth, released recently by fortune magazine, shows 106 are china-based.
among them, those headquartered in shenzhen are ping an insurance, huawei technologies, amer and china merchants bank. shenzhen municipal government is aimed at nurturing more locally based international companies, such as vanke, tencent, byd, zte, bgi and kuang chi.
