Shenzhen GDP up 9%, ranks fourth in mainland cities

SHENZHEN - The gross domestic product?in South China's Shenzhen hit 1.95 trillion yuan ($284 billion) in 2016, up 9 percent year-on-year, according to the municipal statistics bureau Monday.

The volume, bigger than that of some provinces, such as Shaanxi in Northwest China, continues to rank fourth, after Shanghai, Beijing and Guangzhou, among mainland cities.

"The 'new normal' for Shenzhen's economy has clearly featured innovation, quality and stable rates," said Yang Xinhong, director of the Shenzhen Municipal Statistics Bureau.

Shenzhen, home to the headquarters of technology giants such as Huawei and Tencent, has developed from a small fishing village into a metropolis, thanks to China's reform and opening up over 30-plus years. It has a population of nearly 12 million.