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Shenzhen’s economy grew by 3% in the first half of the year, despite the impact of the COVID-19 pandemic.
The high-tech manufacturing industry has played a bigger role in serving as the ballast in stabilizing the city’s economic growth.
The added value of industries in the city now accounts for more than 35% of its gross domestic product.
To counter the negative influences of the pandemic, the city rolled out 30 policies in March to bail out the companies from economic difficulties and help them regarding financing, tax, and subsidies, which has saved the market players about 75 billion yuan ($11 billion).
In the first half of this year, the added value of Shenzhen's industrial enterprises above designated size increased by 5.9% year on year, 3.6 percentage points higher than that of the first quarter.
In the first half of this year, the city's import and export of goods amounted to 1,615 billion yuan, up 1.4%, of which exports reached 914 billion yuan, up 7.1%.
Shenzhen planned 883 major projects with a total investment of about 3.6 trillion yuan this year, up 26.2% year on year. Among them, 637 are construction projects to improve the modern industry, infrastructure, and people's livelihoods.
Since the beginning of this year, Shenzhen has made continuous efforts to build new infrastructure. From January to June, the city's new infrastructure projects completed an investment of 52.46 billion yuan.