Luohu’s gross domestic product in the first half of this year hit 126.82 billion yuan ($19.6 billion), up 10.3% year-on-year, registering the district’s average economic growth over the past two years at 4.3%, according to the district government.
Notably, Luohu’s investment in fixed assets increased 1.1% over the first half of this year compared with the same period last year, totaling 46.9% of its planned fixed asset investment for 2021, the highest among all district-level regions in Shenzhen.
Investments in Luohu's real estate industry increased 15.4% year-on-year in the first half of 2021, while investments in the district’s non-real estate sectors decreased 18.7%, compared with the same period last year.
The total retail sales of consumer goods in Luohu reached 69.07 billion yuan in the first half of this year, the second-highest among all districts in the city, which is 36.1% higher than that of the same period last year, marking the fastest growth among all districts in the city and sitting 12.9 percentage points higher than the city average.
In the first half of this year, Nanshan’s GDP led Shenzhen with more than 365 billion yuan, followed by Futian’s 249 billion yuan, and Baoan’s 208 billion yuan. In fact, over the first half of this year, the GDP of Baoan has exceeded 200 billion yuan for the first time.