Tertiary Industry Contributes Less to Shenzhen's GDP
(SinoCast China Business Daily News Via Thomson Dialog NewsEdge)SHENZHEN, January 30, SinoCast -- The contribution of the tertiary industry or services sector to Shenzhen's gross domestic product (GDP) has been slipping for three consecutive years.
Figures show that Shenzhen's GDP totaled CNY 492.69 billion in 2005, up by 15 percent over the previous year. Its economy grew by 16.3 percent yearly from 2001 to 2005 on average, which was 4.3 percent higher than the planned target set for the period.
Of the GDP, added value of the primary industry was CNY 987 million, down 20.4 percent; that of secondary industry and the tertiary industry was CNY 258.082 billion and CNY 233.621 billion, increasing by 17.9 percent and 11.6 percent respectively. The proportion of the three industries to the aggregate of GDP was 0.3:51.6:48.1 in 2004 and 0.2:52.4:47.4 in 2005. The proportion of the tertiary industry to GDP was down by 0.7 percent.
According to China's first national economic census, the GDP of Shenzhen in 2004 amounted to CNY 428.214 billion. It ranked the second place among 21 cities in Guangdong Province and the fourth place among national cities behind Shanghai, Beijing and Guangzhou. It was expected to maintain the place in 2005.
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