Shenzhen still on the frontline of reform and opening-up

ACCORDING TO SHENZHEN STATISTICS BUREAU, Shenzhen's GDP growth rate in the first three quarters of 2019 declined to 6.6 percent, lower than expected. However, we should not worry too much about the decline in Shenzhen's GDP growth rate in the short term considering the city's economic resilience and the support offered by the plan to establish the Guangdong-Hong Kong-Macao Greater Bay Area. China Daily writer Wang Yiqing comments:

As the most successful domestic city, thanks to its pioneering role in reform and opening-up, Shenzhen's economic slowdown has drawn wide public concern. Over the past four decades, Shenzhen's average economic growth rate has been more than 20 percent, and as a result its per capita GDP ranks first among all the major cities in China.

But given the global economic situation, it is unreasonable to expect Shenzhen to maintain the same high growth rate as before, especially considering that as an important import-export trade city it has been seriously affected by the Sino-US trade conflict.