Chinese hi-tech hub Shenzhen gears up for steady economic expansion over next five years, cementing its role as the Greater Bay Area’s ‘core engine’
Under its new five-year plan, Shenzhen will sharpen its focus in the fields of semiconductors, biomedicine, new energy vehicles and the digital economy
The 130-page economic blueprint forecasts the local economy to reach US$626 billion by 2025
Aerial photo shows the Futian District of Shenzhen, the richest city in southern Guangdong province. Photo: Xinhua
Shenzhen, China’s Silicon Valley and the richest city in southern Guangdong province, expects to achieve steady economic expansion through 2025 under a new five-year plan, helping cement the metropolis’ role as the “core engine” of the Greater Bay Area (GBA).
The city’s 14th five-year plan from 2021 to 2025, released by the Shenzhen government this week, expects the local economy to reach 4 trillion yuan (US$626 billion) by the end of that period, up from 2.8 trillion yuan in 2020.