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Comprehensive Economic Strength
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Comprehensive Economic Strength

Shenzhen is among the top mainland cities for economic returns. The city ranked first on the list of 2016 China's Urban Comprehensive Economic Competitiveness Report, which was co-released by the National Academy of Economic Strategy of the Chinese Academy of Social Sciences (CASS), China Social Sciences Press, and the Center for City and Competitiveness of CASS.

ECONOMIC GROWTH

In 2015, Shenzhen's economy maintained a healthy momentum of growth. GDP grew by 8.9% to 1.75 trillion yuan.

Its total retail sales of consumer goods increased by 2% to 501.78 billion yuan. Foreign trade volume increased to US$442.55 billion. Export and import volume has stayed at the top of the nation's large and medium-sized cities for the 23rd consecutive year.

ECONOMIC POWER

Shenzhen is fourth on the Chinese mainland in terms of economic power and is one of the country's top cities for economic returns. Surpassing Hong Kong for the first time, Shenzhen placed first on the list of 2015 Chinese cities' comprehensive economic competitiveness, according to the 2015 Competitiveness of Chinese Cities Blue Book.

FISCAL REVENUE

Shenzhen reported 272.71 billion yuan in local revenue in 2015, up 30.9% from 2014. The public budget expenditure in 2015 was 351.9 billion yuan, up 62.5% from the previous year.

ECONOMIC STATUS

Shenzhen is a link between the Chinese mainland and Hong Kong and a transport hub for coastal southern China. The city leads in high-tech development, financial services, foreign trade, shipping, and creative and cultural industries. It has undertaken a mission to pilot China's structural reform and continuous opening up to the outside world.

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