Shenzhen sets 6% annual growth target for 5 years

Shenzhen’s latest Five Year Plan envisages annual GDP growth of 6% from 2020-25. The plan, which was only formally released yesterday, sets a target of the city’s economy reaching 4 trillion yuan by 2025 – which is roughly 3.5 years from now. By that date, per-capita GDP is expected to have grown by a similar rate – 6% per year – which suggests the city government does not anticipate enlarging its official population (i.e., those with a Shenzhen hukou). The supply of public housing units, however, will be enlarged by 280,000 units.

(GBI comment: Shenzhen has been the country’s fastest-growing major city – in terms of population – together with Guangzhou for many years. It blew past its population growth predictions in the last Five-Year-Plan, as noted by the SCMP, but now apparently is doing away with incentives designed to attract talent to the city.)

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