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Shenzhen City in south China's Guangdong Province rose in the ranks of China's industrial powerhouses due to its 422.13 billion yuan (about US$50.86 billion) in total industrial output last year.
Sources from the city's economic and trade bureau said the volume represented a year-on-year increase of 24.2 percent. The city's added industrial value also rose by 19.6 percent to reach 107.23 billion yuan (about US$12.92 billion).
The industrial sector contributed 60.5 percent to the city's gross domestic product (GDP), said the sources.
The city began adjusting its industrial structure last year. While continuing to expand its strong industries, it also made efforts to develop new industries and to upgrade traditional industries, said a local official.
Along with rapid growth, the city saw improvements in both the quality and efficiency of industrial development.
Shenzhen, a boomtown across the river from Hong Kong, is one of China’s five special economic zones and one of the country's leading export players.
(Xinhua News Agency January 25, 2003)
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