In the first three quarters, Shenzhen registered an 11.5 percent growth in gross domestic product (GDP) despite global financial turbulence.

Boosted by the hi-tech industry, especially the electronic information industry, industrial output of sizable enterprises reached 1.12 trillion yuan during the period, which rose by 14.5 percent. IT sector plays an important role in the significant rise. This sector grew by 16.4 percent to 111.35 billion yuan, which is 4.9 percent points higher than the city’s average. Growth in hi-tech industrial output accelerated from 13.2 percent in the first quarter, 15.53 percent in the second quarter to 17.58 percent in the third. The government expects the growth to hit 18 percent this year.

Software sales, which recorded solid growth in the first three quarters, were 81.2 billion yuan, up 36.7 percent; and software exports were $5.1 billion, up 69 percent.

The industrial giants are the biggest support for the development of this sector.

China’s largest telecommunications equipment maker Huawei Technology generated 50 percent growth of 81.7 billion in output. ZTE Corp, telecom equipment maker, made a rise by 23 percent to 27 billion yuan in output. Battery producer and automaker BYD Co Ltd’s output reached 9.9 billion yuan, went by 13.6 percent.

In the first nine months, foreign direct investment hit $3.18 billion, up 17.5 percent year-on-year. Exports climbed 9 percent to 130.96 billion. And retails hit 166.2 billion yuan, went up 18.5 percent. The city completed 97.11 billion yuan of fix-asset investment which was about 66 percent of the sum planned for this year.

The hi-tech sector of Shenzhen city was booming last month. The national patent technologies Shenzhen showcasing and trading center was finished. The 3 billion yuan is prepared to build Shenzhan Software industry Base.

Shenzhen High-tech Industrial Park is burgeoning into an international centre. Four key labs, including one operated by the City University of Hong Kong, were launched at a virtual university campus.

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China, GDP, industry, IT, product, Shenzhen