Luohu proposes five-year development objectives

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The 8th Luohu People’s Congress, the district’s legislature, held its first meeting Nov. 3. 

Fan Defan, acting mayor of the Luohu district government delivered a report covering the district government’s work over the past five years, as well as a slate of proposed development objectives and key tasks over the next five years.

Fan said that Luohu’s gross domestic product should exceed 330 billion yuan ($51.51 billion) by 2025, while investment in fixed assets in the district is expected to exceed 250 billion yuan. 

By 2025, retail sales of consumer goods in Luohu are expected to total 160 billion yuan, and the added value of strategic emerging industries should account for more than 10% of the district’s GDP. 

The annual GDP output per square kilometer in Luohu should exceed 4.1 billion yuan. And over the next five years, the per capita disposable income should grow at an average annual rate of 6%. 

According to the report, Luohu’s gross domestic product increased by 6.2% annually on average over the past five years, hitting 237.53 billion yuan last year. Every square kilometer of its area produces an annual GDP worth 3.02 billion yuan, 2.2 times the average of other regions in Shenzhen city. Likewise, the personal disposable income of local residents reached 68,000 yuan. 

Luohu hosts 61 of the top 500 enterprises in Shenzhen, representing a significant consumption and financial center of the city. 

Luohu now has 85 innovation carriers above municipal level and 405 national high-tech enterprises, 3.4 times that of 2015. There are nearly 600 enterprises in strategic emerging industries throughout the district, with total revenues exceeding 130 billion yuan. Moreover, Luohu built the city's first 5G industrial park and the district has launched its Jingying talent recruitment initiative.

In addition, the district has moved forward with its urban renovation projects, the construction of its port economic belt and myriad environmental protection measures, according to the report. 

Over the next five years, Luohu will continue its transformation into a hub for regional logistics, exchanges and consumption, and become a model of sustainable development. 

Zhou Yichuan, chair of the presidium of the congress presided over the conference, which was attended by a total of 275 deputies. 

The executive chairpersons of the conference include Liu Sheng, Zhou Yichuan, Lyu Manni, Zuo Jinping, Lai Jianhua, Wang Huasheng, Liang Sheng, Qiu Xueping, Qiu Zhi, Gan Chunyong, Ye Aiquan and Yang Xiuwen. 

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