shenzhen gdp 2020

Reconstruction of Shenzhen North Railway Station in South China's Guangdong is completed on Friday. Statistics Bureau of Shenzhen Municipality. Stronger investment in Shenzhen, with hundreds of new construction projects in the first half of 2020, helped offset weak domestic spending and a decline in exports amid the pandemic. Shenzhen's import and export volume has surpassed 430 billion dollars, accounting for about 10 percent of the country's total foreign trade, compared to less than 20 million dollars four decades ago. Galaad Delval, Data Protection Officer at Chen & Co. Law Firm, discusses this development and its future prospects. Shenzhen, the first city in China to record per capita GDP hitting $10,000 in 2007, took only six years to double the number to $22,112 in 2013, and retained its crown in 2019. The success of Shenzhen broke the doubts over whether China should turn from planned economy to market economy and encouraged the central government to further open up and develop the whole east coast line. Shenzhen is a megacity, with one of the world’s largest ports and a population of more than 12m. In 2019, the city's GDP was nearly 2.7 trillion yuan (about 396.9 billion U.S. dollars). But in Shenzhen, R&D per GDP is even higher – estimated at 4.2 percent – which puts it right behind the current world leaders, the tiny Israel (4.9%) and South Korea (4.3%). The current metro area population of Shenzhen in 2021 is 12,592,000, a 1.9% increase from 2020. Shanghai, registering a GDP of 3.87 trillion yuan ($599.08 billion) last year, delivered the strongest economic performance among Chinese cities, according to a report by Chinese financial news outlet Yicai. Gross domestic product (GDP) at current prices of Shenzhen city in China from 2009 to 2019 (in billion yuan) [Graph]. It was first of the four special economic zones (SEZs) that were set up in 1979 as test-beds for economic reform. Real gross domestic product (GDP) increased at an annual rate of 4.1 percent in the fourth quarter of 2020, reflecting both the continued economic recovery from the sharp declines earlier in the year and the ongoing impact of the COVID-19 pandemic, including new restrictions and closures that took effect in some areas of the United States. Beijing also witnessed its GDP exceed 3 trillion yuan to 3.61 trillion yuan and took the second spot, followed by Shenzhen and Guangzhou. The next five in the top 10 are Suzhou, Chengdu, Hangzhou, Nanjing, and Tianjin. Zhuhai and Erdos, with only 2 million population, generated over $20,000 per capita GDP in … (April 15, 2020). It did not take long for Shenzhen's economy to take off – its GDP reached 3.9 billion yuan in 1985, 14 times of that in 1980. Shanghai, Shenzhen and Hangzhou’s economies were worth a combined 8.24 trillion yuan (US$1.3 trillion), accounting for about 8 per cent of national gross domestic product in 2020, according to government statistics. The GDP of Chongqing in the first half of 2020 has surpassed that of Guangzhou (1,196.83 bn yuan) by one place to the fourth (1,120.98 billion yuan), following Shanghai (1,735.68 bn), Beijing (1,620.56 bn), Shenzhen (1,263.43 bn). City summary - December 2020. The metro area population of Shenzhen in 2019 was 12,129,000, a 1.86% increase from 2018. (Photo: GT) Shenzhen's GDP grew by 3.1 percent to reach 2.77 trillion yuan ($429 billion) in 2020, placing the city the third in terms of GDP aggregate among major Chinese cities that have announced their 2020 GDP growth rates. The metro area population of Shenzhen in 2020 was 12,357,000, a 1.88% increase from 2019. Beyond the high-profile federal data protection reforms currently being made in China, there are also significant legislative developments happening at the local level; namely, in the Shenzhen Special Economic Zone.

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