The city lights of Shenzhen, South China's Guangdong province, shine on May 26, 2018. (PHOTO / IC)
In the Guangdong-Hong Kong-Macao Greater Bay Area, nine cities on the Chinese mainland showed good economic growth in the first half of this year, said news portal STCN.com on Wednesday.
By independent innovation, setting strategic emerging industries and optimizing economic structure, Shenzhen and Guangzhou transformed their growth momentum
Guangdong, one of China's economic powerhouses, realized a 6.5 percent GDP growth to hit 5.05 trillion yuan in the first six months of 2019.
As core engines to drive Greater Bay Area development, Shenzhen and Guangzhou, respectively, fulfilled 1.21 trillion yuan and 1.18 trillion yuan in GDP, with a 7.4 percent and 7.1 percent climb from the same period last year.
By independent innovation, setting strategic emerging industries and optimizing economic structure, Shenzhen and Guangzhou transformed their growth momentum, said the news portal.
In the first half of 2019, Shenzhen's industrial added value increased 7.4 percent year-on-year, while the added value in the advanced manufacturing industry and the high-tech manufacturing industry jumped 10.3 percent and 11 percent, respectively, which accounted for 71.2 percent and 66.7 percent of the industrial added value.
Moreover, the city's computers, communications and other electronic equipment manufacturing industries increased 11.1 percent; electrical machinery and equipment manufacturing industries were up 4.8 percent; the special equipment manufacturing industry climbed 6.5 percent; ordinary machinery manufacturing grew 2.7 percent and pharmaceutical manufacturing industry jumped 11.4 percent.
Shenzhen's exports of high-tech electromechanical products reached 581.57 billion yuan in the first half of this year, while the export of labor-intensive products was 85.01 billion yuan, which shows high-tech products exports are six times the exports of labor-intensive products.
Guangzhou also is showing prosperous development in its new economy, including new technology, new industry, new business and new models.
The city's cross-border e-commerce imports and exports surged 50.4 percent year-on-year, the added value of intelligent equipment and robots industry, and rail transit industry increased 15.6 percent and 8.1 percent, and the output value of new high-tech products accounted for 48.5 percent of the industrial output value.
In addition, Guangzhou's added value in the pharmaceutical manufacturing industry, medical equipment and instrument manufacturing industry, aerospace spacecraft and equipment manufacturing industry, and electronic and communication device manufacturing industry increased 14.2 percent, 95.7 percent , 14.1 percent and 21.7 percent, respectively.
Shenzhen and Guangzhou's fixed-asset investment climbed 17.6 percent and 24.8 percent, retail sales increased 7.7 percent to 307.69 billion yuan and 8.2 percent to 485.81 billion yuan, the foreign trade volume reached 1.34 trillion yuan and 456.14 trillion yuan, respectively, in the first half of this year.
Furthermore, the GDP in other seven cities – Foshan, Dongguan, Huizhou, Zhongshan, Zhuhai, Jiangmen and Zhaoqing – were 479.52 billion yuan, 421.59 billion yuan, 208.92 billion yuan, 191.39 billion yuan, 148.33 billion yuan, 143.21 billion yuan and 98.01 billion yuan, respectively, in the first six months of 2019.