Shenzhen hits national firsts in 2024, targets 5.5% GDP growth in 2025: report

(ECNS) -- Shenzhen, in south China's Guangdong Province, has achieved multiple national firsts in 2024 and set a target of 5.5 percent GDP growth in 2025, according to the city’s government work report on Tuesday.

The report stated that in 2024, Shenzhen's GDP reached 3.68 trillion yuan ($510 billion), growing by 5.8 percent year-on-year, placing it among the leading large and medium-sized cities in China.

In 2024, the city's total industrial output of enterprises above designated size reached 5.4 trillion yuan. The added value of industries grew by 9.7 percent year-on-year, marking a 13-year new high.

For three consecutive years, Shenzhen has ranked first nationwide in both total industrial output above designated size and value-added industrial output among cities.

In 2024, its total goods import and export reached 4.5 trillion yuan, growing by 16.4 percent year-on-year, and ranking first among all cities in China.

Its production of new energy vehicles increased by 69.2 percent year-on-year, accounting for 22.3 percent of the national total. The city's total vehicle production ranked top in China in 2024.

Additionally, it became the first city in the world to have more superchargers than traditional gas stations.

2025 marks the 45th anniversary of the establishment of the Shenzhen Special Economic Zone.

The report outlines key economic and social targets for the year, including a 3 percent increase in local general public budget revenue, synchronized growth of resident income with economic expansion, a consumer price index rise of around 2 percent, and the creation of 200,000 new jobs.