On Sunday, Aug. 1, Luohu was elected one of the top 10 county-level economies in a list published by Xiaokang magazine.
It’s a testament to the district’s increasing socioeconomic development, partly thanks to Luohu’s efforts to promote its commercial sectors and consumerism.
In the first half of this year, total retail sales of consumer goods in Luohu increased 36.1% year-on-year, 12.9 percentage points faster than the Shenzhen city average, accounting for 15.4% of the city’s total.
Last year, despite the impact of the COVID-19 pandemic, Luohu contributed 14% of total retail sales of consumer goods across Shenzhen and 8.6% of the city’s GDP. Meanwhile, in 2019, Luohu Port hosted around 82 million cross-border trips, and the trendy Dongmen shopping area received an average of 300,000 visits per day.
Luohu is among the first districts in Shenzhen to roll out action plans aimed at transforming itself into a core area of the city that is striving to build an international consumption hub, which will provide the city at large with a path to pursuing high-quality and innovative development.
Presently, Luohu is actively developing a number of sectors including digital renminbi, night economy, duty-free shops, livestreaming sales platforms and the gold and jewelry industries to promote the growth of commerce and consumption.
The district is also making efforts to build Hubei and Caiwuwei zones into popular destinations for international brands.