In the first three quarters of 2023, the gross regional domestic product of Guangming District hit 111.316 billion yuan (US$15.31 billion), an increase of 8.4% year on year, Shenzhen Guangming WeChat account reported.

Among them, the added value of the primary industry was 162 million yuan, down 9.5% year on year; the added value of the secondary industry was 80.637 billion yuan, up 8.5% year on year; and the added value of the tertiary industry was 30.517 billion yuan, up 8.2%.

The total retail sales of consumer goods in the district reached 20.002 billion yuan, up 14.1% year on year, 6.2 percentage points higher than the city's growth rate.

The automobile category maintained high growth, with retail sales of automobiles above designated size increasing by 78.7%, of which new energy vehicles increased by 191.0%. Consumer demand for home appliances also increased, with retail sales of household appliances and audio-visual equipment above designated size increasing by 16.7%.

As online and offline integration accelerates, consumption continues to upgrade, and the online retail is showing rapid development, according to the report. 

The district government strengthened the support of financial services to the real economy. In the first three quarters, the added value of the financial industry increased by 11.1% year on year.

The added value of strategic emerging industries increased by 9.4% year on year, becoming a new growth point of economic development. The new energy industry grew by 113.1%, the health industry by 21.8%, and the high-end medical equipment industry by 13.5%.

The government also optimized the structure of fiscal expenditure and increased investment in people's livelihood. In the first three quarters, expenditures in nine major areas of people's livelihood reached 11.556 billion yuan, an increase of 9.0% year on year, accounting for beyond 70% of the local general public budget expenditure.

Among them, education expenditure increased by 5.2%, social security and employment expenditure by 30.1%, housing security expenditure by 2.2%, and transportation expenditure by 66.3%.