The annual regional Gross Domestic Product (GDP) of the Guangdong-Macao In-Depth Cooperation Zone in Hengqin increased by 8.5% year-on-year to 45.46 billion yuan (USD7.1 billion) in 2021, 0.4, 0.5, and 1.6 percentage points higher than the national, provincial, and municipal average growth rates respectively. The two-year average growth rate stood at 6.3%, and the zone was home to 54,437 business entities by the end of December.
Among the 7,366 foreign-funded companies, 4,761 were funded by Macau parties. The number of new firms in December was 530, 62 of which were Macau-funded.
The operating revenue of service industries above designated size climbed up by 37% to 29 billion yuan from January to November 2021.
According to official figures, the total retail sales of consumer goods amounted to 1.49 billion yuan last year and the figure for wholesale and retail hit a record high of 1.02 trillion yuan with a year-on-year increase of 26.3 percent.
Playing a vital role in the zone’s development were employees from a younger age bracket, with 60.4% of employees under the age of 35 at the end of 2021.Hengqin’s employed urban population grew by 2,544 and the registered unemployment rate was down to 1.71%. LV
