Shenzhen to See 9 Percent Growth in GDP as Year Ends

Shenzhen to See 9 Percent Growth in GDP as Year EndsFor the first three quarters of this year Shenzhen’s GDP is said to grow more than 9 percent compared to the same period last year officials meet to analyze the city’s local economy. The projected growth will increase the city’s odds in its goals to achieve the 9 percent GDP growth for 2013.

Recently the city saw a rapid growth in its tertiary industries that played a vital role in the city’s industrial development this year. The city statistics bureau also said that this year the city’s finance industry has developed 5 percent faster compared to the GDP.

Trade volume is also expected to exceed 200 billion yuan this year, as shown by Shenzhen Petrochemical Exchange whose trade volume have already exceed 43 billion yuan and the exchange was only recently established. The exchange is the first commodity trading platform in Qianhai that is also being developed as a service hub for industries in Hong Kong and Shenzhen.

For- the three quarter of this year the city has introduced around 23 financial institutions including 18 headquarters and total assets of the financial industry of the city has reached more than 5 trillion yuan during the last week of September, showing more than 15 percent increase year on year. Its fast growth can be attributed to the six emerging industries in the city such as new energies, internet information technology and culture.

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