Business environment

Updated: Nov 24, 2017 Print
Share - WeChat

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 percent to 1.75 trillion yuan ($264 billion).

Its total retail sales of consumer goods increased by 2 percent to 501.78 billion yuan. Foreign trade volume increased to $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 percent from 2014. The public budget expenditure in 2015 was 351.9 billion yuan, up 62.5 percent 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.

Foreign Trade

Shenzhen has ranked first among all large and medium-sized Chinese cities in export volume for 23 consecutive years. Of the Fortune Global 500 companies, 196 have branches in the city by the end of 2015.

Imports and Exports

Total exports and imports reached $442.55 billion in 2015, comprising 11.2 percent of the national total. The figure was 43.3 percent of the total of Guangdong Province. Exports reached $264.08 billion, comprising 11.6 percent of the national total and 41 percent of the Guangdong total. Imports reached $178.47 billion, accounting for 10.6 percent of the national total and 47 percent of the Guangdong total.

Use of foreign investment                       

In 2015, a total of 3,359 projects directly invested by foreign enterprises were granted, up 34.9 percent from last year. The contractual use of foreign investment in Shenzhen reached $25.6 billion, up 134.9 percent from the previous year and the actual use of foreign investment was $6.5 billion, up 11.9 percent from last year.

Outbound investment

In 2015, local companies actively invested abroad. They set up 1,030 enterprises and organizations outside the mainland. The agreed investments of Chinese enterprises amounted to $16.57 billion, up 214.7 percent from a year ago. Actual direct outbound investment reached $5.13 billion, up 28.9 percent from a year ago.

International trade

Qianhai Shekou Pilot Free Trade Zone will actively replicate and promote the experience in international trade and economic integration among Guangdong, Hong Kong and Macao. It will build a national Shenzhen-Hong Kong cross-border e-commerce system and a finance and lease system. It will also attract multinational companies to set up operative headquarters, logistics trade centers, settlement centers and an Asian-Pacific supply chain center.

Shipping and logistics

Qianhai Shekou Pilot Free Trade Zone will take full advantage of China Merchants Group, which has 28 ports in 14 countries. The zone will upgrade its industries and port resources and build a world-class international pivot ports group.

1 2 3 4 5 >

Copyright©2024 China Daily. All rights reserved.


京公网安 京公网安备 11010502032503号