Economic Data Shows a Negative Growth Since the Establishment of the SEZ

Economic Data Shows a Negative Growth Since the Establishment of the SEZRecent economic data released shows that during the first two months of 2012, Shenzhen showed a negative growth trend, incredibly rare since the Shenzhen Special Economic Zone was established.

A statistical bulletin showed that in January and February of 2012, industries of designated size only had a growth value of 73 billion yuan, which is down by 3% over the same period of 2011. Meanwhile industries above a designated size had sales output of 275 billion yuan, which is also down, by 5.4 % while the industrial product sales rate is 100.2%, down by 0.1%.  Some analysts say that the Spring Festival might have had an impact on the growth rate, this was the first time that a negative growth was rated in such a large area with industries of designated sizes since the creation of the Shenzhen Special Economic Zone.

Several investments, consumption and exports have played roles in speeding up economic growth, which one would have expected to offset slowdowns in other industries, with Shenzhen fixed assets investment at 18.56 billion yuan, an increase of 10.2 percent over the same period last year. These assets included real estate development projects, which are up by 31 percent and non-real estate development projects that are also up, by 0.2 percent.

Shenzhen also recorded negative growth on its foreign trade, with export value in the first two months at 56.29 billion yuan which is down by 3.5%. Export value is also down by 6% and import value has increased by 0.3%.

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