Page 84 - 2020 Special Report on the State of Business in South China

and ecological environment quality reach the
international advanced level, thus building it into
a modern, international and innovative city; (ii) by
2035, set Shenzhen as a national example for high-
quality development, and realize its world-leading
comprehensive urban economic competitiveness,
thus building it into an innovative, entrepreneurial billion, an increase of 7.6% over the previous
and creative capital with global influence and
a city model for building China into a modern
socialist power; and (iii) by the middle of this
century, be included among the world's advanced
cities and become a global benchmark city with
distinguished competitiveness, innovation and
influence. Specific measures include:
- Taking the lead in building a modern economic
system that reflects the requirements for high-
quality development by working faster to
implement the innovation-driven development
strategy, building a modern industrial system,
forming a new pattern for comprehensive
deepening reform and opening up and boosting
the development of the Guangdong-Hong Kong-
Macao Greater Bay Area.
- Taking the lead in creating a democratic and
rule of law-based environment that demonstrates
fairness and justice by comprehensively
improving the democracy and rule-of-law building
level, optimizing government management and
services and promoting the modernization of
social governance.
- Taking the lead in shaping a modern urban
society that demonstrates the prosperity
of socialist culture by comprehensively
promoting the building of an urban spiritual
society and developing more competitive
cultural industries and tourism.
- Taking the lead in forming a pattern for
people's livelihood development based on co-
construction, co-governance, sharing and common
prosperity by improving the development level of
education and medical care undertakings and the
social security system.
- Taking the lead in setting an example for
a beautiful China based on the harmonious
coexistence of humans and nature by improving
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ecological systems and building a new pattern for
urban green development.
Shenzhen's economy is developing rapidly,
and its economy is generally stable. As of the
end of 2018, the city's GDP was Rmb2,422.198
year. In terms of different industries: (i) the
added value of primary industries was Rmb2.209
billion, an increase of 3.9%; (ii) the added value
of secondary industries was Rmb969,195 million,
an increase of 9.3%; and (iii) the added value of
tertiary industries was Rmb1,42,794 million, an
increase of 6.4%. The industrial structures were
adjusted from 0.1: 41.4: 58.5 in the previous year
to 0.1: 41.1: 58.8. The added value of the city's
industrial enterprises above the designated size
was Rmb109.154 billion, an increase of 9.5%.
The city's fixed asset investment increased
by 20.6%, of which real estate development
investment increased by 23.6%, and non-real
estate development investment increased by
18.4%. From the perspective of major industries,
industrial investment increased by 8.2% and
private investment increased by 12.5%, accounting
for 47.6% of total fixed asset investment.
Summary
Guangdong Province, driven by construction
of the Guangdong-Hong Kong-Macao Greater
Bay Area, has created a free trade zone with free
investment and trade, an innovative resource
cluster and prominent radiation functions that
encourage foreign investment, strengthen
conditional rewards and subsidies for enterprises,
and promote scientific research, talent and
trade cooperation with Hong Kong and Macao
that focuses on supporting the development
of science and technology, finance, and leisure
tourism. Guangdong Province is creating a globally
competitive business environment by giving play
to the decisive role of the market in resource
allocation, reducing administrative intervention
and strengthening comprehensive market
supervision to form a stable, fair, transparent and
predictable first-class business environment.