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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It is released in the latest report on Shenzhen’s housing market that the average housing prices in May declined 36 percent form the level of last October at 17,350 yuan ($2,540) per sq m to 11,014 yuan per sq m. According to the insider prices are expected to drop another 10 percent as some struggling small and medium-sized real estate developers and speculators are selling properties for cheap to maintain cash flow. And it is reported in some areas housing prices have already dropped 50 percent.

In the first half of this year, the total supply of new residential houses reaches 1.54 million sq m or so, 46 percent of that of the year before. Based on the situation, it is forecasted that another 3.5 million sq m residential housing area will be sold later this year.

It is generally believed that the tightening mortgage policy attributes great to the cool down of the overheating housing market, especially that in the Beijing, Shanghai, Shenzhen, as the housing prices rising has been mainly attribute to speculation.

Headquartered in Quebec City in Canada, the firm has seen increasing opportunities in the government’s large amounts of investment in telecom infrastructure and the residents’ growing demand for faster and better telecom facilities, recognizing China as the most important strategic market for its global expansion.

Covering an area of 4,600 sqm in an industrial park near the airport, the new factory is expected to assemble hand-held fiber-optic test and measurement equipment. With the new factory, Germain Lamonde, founder and CEO of the company, anticipates that 50% of all EXFO sales will be derived from products assembled in Shenzhen in 3 to 4 years, which will be sufficient to meet demands on the global market.

“China has been the second largest market of EXFO in the world, and it will become more significant in the future,” Lamonde said.