Guangming District hosts a shopping festval in July to boost comsumption.

The gross domestic product (GDP) for the first half (H1) of 2023 in Guangming District reached 70.09 billion yuan (US$9.81 billion), up by 8.5% year on year, according to data recently released by the Statistical Bureau of Guangming District.

Among them, the added value of the primary industry was 1.12 billion yuan, a decrease of 3.7%, the added value of the secondary industry was 48.817 billion yuan, an increase of 7.9%; and the added value of the tertiary industry was 21.158 billion yuan, an increase of 10.2%.

The added value of industries above designated size increased by 7.3% year on year, surpassing the city's growth rate by 3.4 percentage points. Among the major industry categories, the added value of electronic equipment manufacturing, such as computers and communication devices, decreased by 7.9%, while the added value of specialized equipment manufacturing increased by 11.9%, and the added value of electrical machinery and equipment manufacturing increased by 19.9%.

The total retail sales of consumer goods in the district reached 13.277 billion yuan, up by 20.0% year on year, exceeding the city's growth rate by 8.5 percentage points.

The total output value of the district's construction industry grew by 104.2% and the investment in construction installation projects increased by 12.4%.

The financial sector adhered to serving the real economy, focusing on promoting financial service innovation. The added value of the financial industry increased by 11.5% compared to the same period last year, contributing 0.5 percentage points to GDP growth. The balance of loans and deposits in financial institutions maintained rapid growth, with a growth rate of 18.3% for both domestic and foreign currency deposits and an 18.4% growth rate for both domestic and foreign currency loans.

The added value of strategic emerging industries increased by 9.0% year on year. Among them, the new energy industry grew by 134.6%, the healthcare industry grew by 36.3%, and the high-end medical equipment industry grew by 23.0%.

Fixed asset investment increased by 14.4% year on year. In terms of funding sources, government investment decreased by 0.1%, while social investment increased by 21.9%. Looking at the four major sectors, real estate development investment increased by 32.7%, manufacturing investment increased by 10.5%, infrastructure investment increased by 8.0% and other investments decreased by 9.7%.

Increased investments and optimized expenditure structures resulted in a cumulative expenditure of 8.01 billion yuan in nine major areas of people's livelihood, up by 16.3% year on year. Among them, education expenditure increased by 14.0%, social security and employment expenditure increased by 26.1%, subsidized housing expenditure increased by 13.5% and transportation expenditure increased by 48.3%.