SZ sets around 6% GDP growth target for 2022

SHENZHEN has set its GDP growth target at around 6% for 2022, Mayor Qin Weizhong said as he delivered a government work report at the opening meeting of the annual session of the city’s legislature at the Civic Center in Futian District on April 11th.

Other main targets for socioeconomic development include a 5% growth in both the city’s general public budget revenue and the added value of industrial enterprises above designated scale, surveyed urban unemployment rate kept at no more than 5.5%, and the CPI increase — the main gauge for inflation — limited to about 3%.

A view of the annual meeting of the Shenzhen Municipal People's Congress at the Civic Center in Futian District. Shenzhen Special Zone Daily

The city also aims for a steady growth in residents’ per capita disposable income and accomplishing its energy saving and emission reduction goals, as per the government work report.

According to the report, Shenzhen will complete the first batch of comprehensive authorized reform measures and set about introducing the second batch this year. It will comprehensively deepen the reform and opening up of Qianhai, forge closer ties among Shenzhen, Hong Kong and Macao, and actively promote coordinated regional development.

The city will focus on improving its innovation capabilities, with efforts such as increasing investment in basic research, launching over 50 new projects to make breakthroughs in key and core technologies, and supporting multinational companies to set up R&D centers in Shenzhen.

Qin said Shenzhen will bolster strategic emerging industries, make steady headway in building advanced manufacturing parks, promote the implementation of major industrial projects, and strive to improve the quality of market players.

The city will invest 220 billion yuan (US$34.54 billion) in infrastructure and 100 billion yuan in new infrastructure throughout the year, and work to build the city into an international consumption center and a national commerce hub.

In addition, Shenzhen will endeavor to become a first-class livable city, transportation hub, resilient city, and smart city, and build a modern environmental governance system, a green and low-carbon circular development system, and a modern energy system.

The city will also add 200,000 school seats for basic education, two top-level hospitals and 1,200 hospital beds, and prepare and build 110,000 public housing units this year.

Shenzhen’s GDP witnessed a growth of 6.7% year on year to reach 3.07 trillion yuan in 2021, according to the work report.

Source:  ShenzhenDaily