1. Basic situation of economic operation
In the first half of 2010, Shenzhen accelerated the transformation of economic development methods and structural adjustment, and its main economic indicators maintained a steady and faster growth trend. According to preliminary calculations, the city's regional GDP in the first half of the year was 421.56 billion yuan, an increase of 11.6% (year-on-year, the same below), and the growth rate was 3.1 percentage points higher than the same period last year. The tertiary industrial structure has developed from 0.1:46.7:53.2 at the end of last year to 0.1:46.3:53.6, and the proportion of the tertiary industry further increased by 0.4 percentage points. In the first half of the year, Shenzhen's economic operation mainly showed the following characteristics:
(1) Rapid industrial growth and significant improvement in efficiency
In the first half of the year, the added value of Shenzhen's industrial enterprises above designated size increased by 1% compared with the previous year. A relatively large growth, the city's cumulative industrial added value reached 176.98 billion yuan, an increase of 12.8%, and the growth rate increased by 8.2 percentage points year-on-year. In terms of enterprise types, driven by the rebound in external demand and the rebound in exports, the added value of foreign and Hong Kong, Macao and Taiwan-invested enterprises in the first half of the year totaled 94.82 billion yuan, an increase of 10.4%, 9.2 percentage points higher than the same period last year, accounting for the city's industrial growth 53.6% of the value: The added value of state-owned enterprises grew the fastest, reaching 16.4%. From an industry perspective, the added value of the manufacturing industry of communication equipment, computers and other electronic equipment was 89.80 billion yuan, an increase of 16.1%, a year-on-year increase of 10.0 percentage points, and accounted for more than half of the total industrial added value.
As Shenzhen’s economic situation improves, the economic benefits of industrial enterprises have also improved significantly. From January to May, the comprehensive industrial economic benefit index and industrial product sales rate were 169.2% and 98.4% respectively, a year-on-year increase of 7.2 percentage points and 1.6 percentage points respectively. The main business income of industrial enterprises increased significantly by 31.9% year-on-year, and total profits also increased by a large 51.5%.
(2) Investment demand has grown steadily, and real estate investment has grown rapidly
In the first half of the year, the city completed fixed asset investment of 72.73 billion yuan, an increase of 11.1%, and the growth rate was 2.7% lower than the same period last year. percentage points. Among them, capital construction investment was 44.02 billion yuan, an increase of 6.7%, accounting for more than 60% of all fixed asset investment; due to the low base of the previous year, real estate development investment grew rapidly, with a cumulative investment of 20.57 billion yuan, an increase of 16.8%, and the growth rate A significant increase of 26.3 percentage points year-on-year.
(3) Consumer demand is growing steadily and product sales are booming
In the first half of the year, the total retail sales of consumer goods in Shenzhen totaled 140.35 billion yuan, an increase of 16.1%, and the growth rate increased by 3.3 percentage points year-on-year. percentage point. Judging from the trend, the cumulative growth rate of total retail sales of consumer goods from January to June has basically remained above 16%, reflecting relatively stable market consumption growth. Judging from the sales of goods, among the ten major categories of goods, except for the decline in clothing, shoes, hats and knitted goods, the rest have increased. In the first half of the year, capital market investment and real estate investment demand were suppressed to a certain extent. Sales of gold, silver, jewelry and automobile products as alternative products grew rapidly, with the cumulative growth rates in the first half of the year reaching 57.9% and 55.6% respectively.
(4) Foreign trade demand accelerated, and actual utilization of foreign capital increased slightly
In the first half of the year, Shenzhen’s foreign trade import and export increased significantly compared with the same period last year, and Shenzhen’s total import and export trade totaled 1,452.2 billion US dollars, a year-on-year increase of 27.5%, of which the total export volume was US$83.84 billion, an increase of 21.8%; the total import volume was US$61.38 billion, an increase of 36.2%. From l to June, Shenzhen's foreign trade exports rebounded month by month. Except for the negative growth in January, the growth rates in other months increased to varying degrees compared with the previous month; the import growth rate basically remained at around 35%.
From the perspective of export structure, general trade has grown rapidly. In the first half of the year, general trade exports were 28.08 billion yuan, an increase of 37.3%. Its proportion in total exports has further increased by 4.2 percentage points compared with the end of last year. It plays an important role in export growth. The contribution rate reached 50.9%, exceeding processing trade by 1.2 percentage points. In terms of export product types, mechanical and electrical products are the most important export products, accounting for more than 90% of total exports, followed by high-tech products.
In the first half of the year, Shenzhen’s actual utilization of foreign investment totaled US$1.85 billion, an increase of 2.2%. Hong Kong, Macao and Taiwan are still the main sources of foreign investment, with actual investment accounting for nearly 70% of all foreign investment. In the first half of the year, ASEAN's actual investment in Shenzhen increased significantly by 33.9%. The industries in which foreign capital invests are mainly wholesale and retail, real estate and electronic equipment manufacturing.
Driven by the rapid growth of consumer demand and foreign trade demand, Shenzhen's logistics industry also experienced encouraging growth in the first half of the year: the city's freight volume increased by 18.0% cumulatively, and cargo turnover increased by 49.7%, a year-on-year increase of 11.0 and 49.6 respectively. percentage points; port cargo throughput and container throughput increased by 22.0% and 29.4% respectively, a year-on-year increase of 38.9 and 50.1 percentage points respectively.
(5) The overall rise in prices accelerated, and the prices of various consumer goods rose and fell differently
In the first half of the year, Shenzhen’s consumer prices increased by 2.6% cumulatively, an increase of 3.6 percentage points year-on-year. Looking at price trends, the monthly increase in consumer prices has shown a gradual upward trend. Among them, consumer prices in June increased by 3.8% year-on-year, which was the largest increase this year. The increase was 0.6 percentage points higher than that in May. Among the eight major categories of major consumer goods, the top three categories with the highest increases are food, medical care and personal supplies, and residential consumer goods. Among them, food prices have increased by more than 5%. The prices of clothing, entertainment, education, cultural supplies and services, household equipment, supplies and maintenance services have declined.
Since the end of last year, Shenzhen’s raw material prices and factory prices of industrial products have been gradually recovering. Entering 2010, both types of prices continued to rise, with cumulative increases from January to May of 4.0% and 2.3% respectively. The products with the largest increase in raw material prices are non-ferrous metal materials, building materials and agricultural and sideline products, with their cumulative increase exceeding or approaching 10%: among the ex-factory prices of industrial products, the price of daily necessities has increased by 4.4%, and the price of petroleum industry products has increased by 1- The cumulative increase in May was as high as 70.0%.
(6) Fiscal revenue and expenditure grew simultaneously, and various tax revenues grew well
In the first half of the year, Shenzhen’s local general budget revenue accumulated 57.40 billion yuan, an increase of 15.5%, and a year-on-year increase of 11.8% percentage points: local fiscal general budget expenditures were 55.28 billion yuan, an increase of 32.8%, an increase of 20.8 percentage points. From January to May, various taxes collected 46.08 billion yuan, an increase of 14.1%. Among various taxes, corporate income tax, stamp duty, real estate tax and business tax have grown rapidly. Among them, the balance of corporate income tax as of the end of May was 8.69 billion yuan, a year-on-year increase of 34.2%.
(7) Real estate market demand has decreased, and the adjustment trend is obvious
In the first half of the year, in response to the excessive rise in housing prices, the state introduced a series of real estate control policies. Judging from the recent performance of the Shenzhen real estate market, the policy effects are gradually emerging, and real estate prices have fallen slightly.
1. Supply and demand situation in the real estate market.
(1) The supply of new commercial housing is not optimistic, and the demand has dropped significantly
From the supply situation, the completed area has grown rapidly, while the approved pre-sale area has decreased significantly. In the first half of the year, the total completed area of ??commercial housing in Shenzhen was 1.982 million square meters, an increase of 20.6%, of which the completed residential area was 1.534 million square meters, an increase of 45.4%. The approved pre-sale area of ??commercial buildings was 1.706 million square meters, a decrease of 27.8%. Among them, the approved pre-sale area of ??residential buildings was 1.420 million square meters, a decrease of 29.8%.
In the first half of the year, the commercial housing construction area in Shenzhen was 26.376 million square meters, a decrease of 4.8%. Among them, the residential construction area was 18.119 million square meters, a decrease of 1.9%. The newly started commercial housing area was 2.731 million square meters, an increase of 22.4%. Among them, the newly started residential area was 2.248 million square meters, an increase of 48.9%. The substantial increase in the area of ??new residential construction will play a certain role in easing the future supply of the residential market.
From the perspective of demand, the sales area has decreased significantly. In the first half of the year, the city’s cumulative sales area of ??newly built commercial buildings was 1.529 million square meters, a decrease of 62.4%. Among them, the residential sales area was 1.351 million square meters, a decrease of 64.9%.
In terms of residential types, the reduction in the sales area of ??large-sized residential buildings was particularly obvious. The cumulative sales area of ??residential buildings with an area of ??more than 90 square meters in the first half of the year was 439,000 square meters, a significant decrease of 75.0%. The city's cumulative sales revenue of newly built commercial buildings was 2,330.6 billion yuan, a decrease of 34.6%, of which residential sales revenue was 28.63 billion yuan, a decrease of 39.0%.
(2) Second-hand house transactions decreased slightly, and the demand for small second-hand houses maintained growth
In the first half of the year, the cumulative transaction area of ??second-hand houses in Shenzhen was 5.574 million square meters, a year-on-year decrease of 0.2% . Among them, the residential transaction area was 4.614 million square meters, a decrease of 5.7%. In terms of housing types, the cumulative transaction area of ??second-hand housing with an area of ??less than 90 square meters in the first half of the year was 2.384 million square meters, an increase of 2.4%. This also shows that there is still a large rigid demand for small second-hand housing. The cumulative revenue from second-hand housing transactions was 33.33 billion yuan, an increase of 5.2%. Among them, second-hand residential transaction income was 26.71 billion yuan, a decrease of 5.2%.
2. Real estate prices.
(1) The price of newly built commercial housing has declined in recent months, but is still at a relatively high level
Monitoring data from the National Bureau of Statistics on the sales price index of commercial housing in 70 large and medium-sized cities across the country show According to statistics, the price of newly built commercial housing in Shenzhen in June increased by 10.2% year-on-year and dropped by 0.7% month-on-month. The month-on-month price has declined for two consecutive months.
According to the statistics of Shenzhen Real Estate Information System, in the first half of the year, the average sales price of new commercial residential buildings in the city was 21,195 yuan/square meter, an increase of 73.9%. Looking at the monthly price trends of new commercial housing, in February, the average sales price of new commercial housing reached a record high of 24,166 yuan/square meter. In May and June, the average sales price showed a downward trend month-on-month. The average sales price of new commercial residential buildings in June was 17,895 yuan/square meter, a year-on-year increase of 26.0% and a month-on-month decrease of 5.8%. The cumulative decrease in May and June was compared with April. 12.2%.
(2) The price trend of second-hand housing is similar to that of newly-built commercial housing, and the downward trend of average transaction price is slower than that of newly-built housing.
The National Bureau of Statistics analyzed the sales prices of commercial housing in 70 large and medium-sized cities across the country. Index monitoring data shows that the price of second-hand houses in Shenzhen in June increased by 10.4% year-on-year and dropped by 1.3% month-on-month. The Shenzhen second-hand house price index and the new commercial housing price index had a similar trend. The year-on-year performance increased, but the month-on-month price showed two consecutive declines. months of decline.
According to the average transaction price of second-hand housing calculated by Centaline Real Estate, in April, the average transaction price of second-hand housing in Shenzhen reached a historical high of 18,335 yuan/square meter. After that, second-hand housing prices fell month-on-month for two consecutive months. In June, the average transaction price of second-hand housing in Shenzhen was 17,377 yuan/square meter, a year-on-year increase of 23.1%, a month-on-month decrease of 2.4%, and a cumulative decrease of 5.2% in May and June compared with April.
3. Real estate financial situation.
(1) Real estate loan situation
As of June 2010, the balance of real estate loans in Shenzhen was 534.02 billion yuan, an increase of 59.98 billion yuan (increased from the beginning of the year). The balance of real estate loans accounted for The proportion of total loan balances was 33.1%, 1 percentage point higher than at the beginning of the year. Among them, the balance of real estate development loans was 131.32 billion yuan, an increase of 19.50 billion yuan; the balance of personal housing loans was 382.63 billion yuan, an increase of 38.47 billion yuan. In June, Shenzhen's new personal housing loans were 1.88 billion yuan, 4.60 billion yuan less than the new amount in May. There was a significant contraction in new housing loans.
(2) Changes in the quality of real estate loans
As of the end of June, the balance of real estate non-performing loans of domestic financial institutions in Shenzhen was 3.31 billion yuan, a decrease of 280 million yuan from the beginning of the year; the non-performing loan rate was 0.62% , a decrease of 0.13 percentage points from the beginning of the year. Among them, the balance of non-performing loans for real estate development was 1.10 billion yuan, a decrease of 180 million yuan from the beginning of the year; the non-performing loan rate was 0.85%, a decrease of 0.31 percentage points from the beginning of the year. The balance of personal housing non-performing loans was 1.76 billion yuan, an increase of 20 million yuan from the beginning of the year; the non-performing loan rate was 0.46%, a decrease of 0.05 percentage points from the beginning of the year. In June, Shenzhen's personal housing non-performing loans decreased by 80 million yuan from the previous month, and the non-performing rate also dropped by 0.02 percentage points. The overall quality of real estate credit has improved.
2. Basic situation of financial operations
In the first half of 2010, the efficiency of Shenzhen banking financial institutions continued to grow, RMB deposits and loans maintained growth, foreign exchange deposits increased significantly, and foreign exchange loans decreased slightly. Transactions in the financial market are active, the asset size of the securities industry has shrunk, and the insurance industry has continued to develop well.
(1) Monetary and credit operations
In the first half of the year, Shenzhen’s banking industry performed well overall, with pre-tax profits continuing to grow and asset quality remaining stable. Shenzhen banking institutions achieved a cumulative pre-tax profit of 23.62 billion yuan in the first half of the year, an increase of 28.0%. Among them, the pre-tax profit of Chinese-funded banking institutions was 22.80 billion yuan, an increase of 27.8%; the pre-tax profit of foreign-funded banks was 810 million yuan, a year-on-year increase of 32.6%.
1. Deposits continue to grow, and the trend of savings deposits becoming current is obvious.
As of the end of June, the balance of domestic and foreign currency deposits of Shenzhen financial institutions (including foreign capital, the same below) was 2.05203 billion yuan, an increase of 216.29 billion yuan (from the beginning of the year, the same below), an increase of 216.29 billion yuan (from the beginning of the year, the same below) ) was 11.8%, a year-on-year decrease of 35.43 billion yuan. From the perspective of deposit structure, RMB savings deposits, corporate deposits and other deposits all increased significantly. Among them, RMB savings deposits continued the upward trend at the end of the previous year, with an increase of 70.30 billion yuan, an increase of 12.2%, and the new amount accounted for the total RMB deposits. 36.1% of the increase. New savings deposits mainly flowed into demand deposits. In the first half of the year, new RMB demand savings deposits reached 56.51 billion yuan, accounting for 80.4% of all new RMB savings deposits. In the first half of the year, foreign exchange deposits increased significantly, with a cumulative increase of US$3.22 billion in foreign exchange deposits, an increase of 25.6%.
2. Loan growth lags behind deposits, and short-term loans grow rapidly.
As of the end of June, the balance of domestic and foreign currency loans of Shenzhen financial institutions was 1,615.21 billion yuan, an increase of 136.87 billion yuan, an increase of 9.3%, a decrease of 237.04 billion yuan year-on-year. From the perspective of the loan industry structure, new loans generally continue to be tilted towards the tertiary industry. The main industries invested are real estate, manufacturing, leasing and business services, transportation, warehousing and postal industries. In terms of loan term structure, short-term RMB loans increased by 48.63 billion yuan in the first half of the year, an increase of 19.3%, 4.6 percentage points ahead of medium- and long-term loans, and their proportion in all RMB loans increased by 1.3 percentage points from the beginning of the year. Among medium and long-term RMB loans, fixed asset loans among corporate loans grew fastest, while the growth rate of personal consumption loans dropped sharply compared with the previous year. In the first half of the year, foreign exchange loans declined slightly, with a cumulative decrease of US$1.18 billion or 0.3% compared with the beginning of the year.
3. Net cash investment continues to grow.
In the first half of 2010, Shenzhen's financial institutions invested a total of 61.12 billion yuan in net cash, an increase of 1.34 billion yuan year-on-year, an increase of 2.2%. Financial institutions with large net cash injections mainly include Bank of Communications, Industrial and Commercial Bank of China, Agricultural Bank of China and Bank of China. With the recovery of Shenzhen's economy, the growth rate of cash demand has also increased significantly compared with the previous year.
(2) Main financial market conditions
In the first half of 2010, Shenzhen’s inter-bank money market and bond market were active, bill financing decreased, the securities market continued to decline, and the insurance market experienced rapid decline develop.
1. The inter-bank money market and bond market are actively trading.
In the first half of the year, the cumulative transaction volume of Shenzhen’s inter-bank money market reached 6.9067 billion yuan, a year-on-year increase of 10.7%. Among them, the total transaction volume of inter-bank credit lending was 16,854.7 billion yuan, an increase of 25.6%, and the net borrowing funds were 150.5 billion yuan; the total volume of bond pledged repurchase transactions was 4,656.7 billion yuan, an increase of 1.9%; the total volume of bond buyout repurchase transactions was 5,646 billion, an increase of 71.3%. The total volume of spot bond sales in the inter-bank bond market was 8.379 billion yuan, a significant increase of 79.2%.
2. Bill financing decreased significantly.
As of the end of June, the discounted balance of RMB bills of Shenzhen financial institutions was 63.89 billion yuan, a decrease of 26.92 billion yuan from the beginning of the year, a decrease of 29.7% from the beginning of the year, and a decrease of 242.59 billion yuan year-on-year. Since February, bill discounts have basically shown a downward trend month by month, with a monthly decrease of 23.89 billion yuan in June, bringing the balance in the first half of the year to the lowest point since the fourth quarter of 2008. The significant reduction in bill discounting also indicates that it is now less difficult for companies to obtain bank loans.
3. The stock market almost showed a unilateral downward trend, and the profits of securities companies declined.
As of June 30, the Shenzhen Stock Exchange Component Index had a maximum of 13782.8 and a minimum of 9335.6, closing at 9386.9 points, a decrease of 4379.2 points or 31.8% from the beginning of the year: the Shenzhen Stock Exchange Composite Index had a maximum of 1256.4 and a minimum of 931.8, closing at 9386.9 points. At 945.3 points, it dropped 262.0 points or 21.7% from the beginning of the year. From January to June, the cumulative transaction volume of stocks, funds, bonds, and warrants in the Shenzhen Securities Market was 9,994.6 billion yuan, with an average daily transaction volume of 84.7 billion yuan, a year-on-year increase of 25.4%. From January to June, the number of newly listed companies on the Shenzhen Securities Market was 164, including 110 on the Small and Medium-sized Board and 54 on the GEM.
As of the end of June, the total assets of Shenzhen Securities Company were 418.85 billion yuan, a decrease of 51.34 billion yuan, or 10.9%, from the beginning of the year: after-tax profits were 7.27 billion yuan, a year-on-year decrease of 3.13 billion yuan, or a decrease of 30.1%. The number of legal person fund companies remained at 16, with 197 funds under management, 19 more than the end of the previous year; the total fund size was 808.33 billion, an increase of 1.20 billion. There are 12 futures companies, one less than the end of the previous year; net assets are 1.35 billion yuan, a decrease of 270 million yuan from the end of the previous year.
4. The insurance market is developing rapidly, and premium income growth is optimistic.
As of the end of June, the Shenzhen insurance market has achieved a cumulative premium income of 18.23 billion yuan, a year-on-year increase of 29.9%, of which: the property insurance business has achieved a premium income of 5.88 billion yuan, an increase of 19.7%, accounting for 32.3% of all premium income. ; The personal insurance (including accident insurance, health insurance and life insurance) business achieved premium income of 12.35 billion yuan, an increase of 35.4%, accounting for 67.7% of the total premium income, and the proportion further increased by 2.9 percentage points compared with the end of the previous year. The total assets of insurance institutions in Shenzhen reached 67.23 billion yuan, an increase of 8.53 billion yuan or 14.5% from the beginning of the year. In the first half of the year, Shenzhen's insurance industry reversed years of negative profits and achieved an after-tax profit of 290 million yuan, a significant year-on-year increase of 134.3%.
(3) Cross-border trade RMB settlement business and Hong Kong RMB business
1. Cross-border trade RMB settlement business continues to expand.
In the first half of 2010, Shenzhen's cross-border trade RMB settlement business was carried out smoothly. The settlement amount increased significantly, the number of business transactions increased rapidly, and the types of business continued to enrich. The pilot work for the expansion of cross-border trade RMB settlement was in order. Advance.
From L to June 2010, Shenzhen handled 1,158 cross-border trade RMB transactions, with an amount of 22.05 billion yuan. Among them, there were 1,022 cross-border goods trade transactions with an amount of 18.76 billion yuan; 128 cross-border service trade and other current account transactions with an amount of 2.97 billion yuan; and 8 capital account RMB transactions with an amount of 320 million yuan. As of the end of June, 10 banks in Shenzhen had opened 32 interbank current accounts for 28 overseas participating banks, with a total account balance of 3.95 billion yuan, a significant increase of 3.87 billion yuan from the end of the previous year; cumulative transactions through interbank current accounts There were 73 RMB purchases and sales, with a total amount of 500 million yuan; 16 banks opened 139 RMB bank settlement accounts for overseas enterprises, with a total account balance of 850 million yuan.
2. Hong Kong’s RMB businesses operate smoothly and orderly.
As of the end of June, the balance of the clearing bank’s clearing account with our bank was 69.27 billion yuan, a year-on-year increase of 63.0%; the cumulative net deposit of RMB cash was 1.26 billion yuan. From January to June, BOC Hong Kong, as a participating bank, took in 29.70 billion yuan in customer deposits and opened 586,000 accounts for customers. Hong Kong residents have remitted a total of 62,882 RMB funds to the mainland, with an amount of 4.36 billion yuan; there have been 1,481 remittances from the mainland to Hong Kong, with an amount of 270 million yuan; Hong Kong has net remittances to the mainland of 4.09 billion yuan.
From January to June, the clearing bank’s net purchases of foreign exchange flat transactions totaled 27.67 billion yuan; participating banks’ net purchases of RMB from the clearing bank totaled 27.55 billion yuan; the clearing bank’s cumulative net purchases of national inter-bank lending The net outflow of RMB funds in the market was 4.81 billion yuan.
From January to June, the total clearing amount of mainland bank cards used in Hong Kong was HK$39.27 billion, equivalent to RMB 32.75 billion. The total accumulated clearing amount of Hong Kong bank cards used in the mainland was RMB 930 million.
From January to June, *** cleared 264 Hong Kong RMB checks, with an amount of 13.83 million yuan.
From January to June, cross-border trade RMB settlement funds received and paid through the channels of Hong Kong RMB clearing banks*** totaled 22.06 billion yuan, of which 10.25 billion yuan was paid in RMB settlement funds for mainland imports and 10.25 billion yuan was received for mainland exports. RMB settlement funds were 11.81 billion yuan.
3. Economic and financial issues worthy of attention
(1) Real estate market and real estate financial issues
In the first half of 2010, in response to the excessively rapid rise in housing prices, the state A series of real estate control policies were launched. The Shenzhen real estate market has seen a certain regulatory effect in terms of price and transaction volume, and new personal housing loans also shrank significantly in June. However, we should realize that the current housing prices in Shenzhen are only experiencing a slight correction after a sharp rise for nearly a year, the housing price-to-income ratio is still high, and the real estate bubble is still serious. If the national real estate control policy can continue to be strictly implemented, Shenzhen housing prices should still have some room for downside. The proportion of real estate loans of Shenzhen financial institutions has always been high at more than 30%, and loan growth is also heavily dependent on housing loans. The shrinking of real estate market transactions and the decline of prices will have a greater impact on bank assets. In the first half of the year, Shenzhen financial institutions have made active attempts despite the contraction of housing loans. The development of unit loans and other businesses has ensured the steady growth of loans. In the future, Shenzhen financial institutions should further explore and innovate more financial products to ensure the smooth operation of banking business.
(2) The impact of RMB exchange reform on foreign trade
In the first half of the year, Shenzhen’s foreign trade import and export increased significantly and exceeded the scale before the financial crisis. Judging from the monthly trends, although export growth still lags behind import growth, the growth rate is gradually approaching. The impact of the exchange rate reform on Shenzhen's foreign trade has not yet been clearly demonstrated. However, looking at Shenzhen's export structure, the proportion of general trade has increased significantly in recent years, accounting for nearly 35% of exports in the first half of the year. If the RMB continues to appreciate, it may have a certain impact on the development of Shenzhen's general trade exports.
(3) Development issues of cross-border trade RMB settlement business
The cross-border trade RMB settlement business has achieved rapid development since its pilot in Shenzhen, with the cumulative business amount in the first half of the year exceeding 20 billion yuan. , equivalent to 32 times the business volume in 2009. The launch of capital account RMB business has further enriched the types of cross-border business, and the number of domestic and foreign banks participating in cross-border business has also increased significantly. But at the same time, there are still some problems in the development of cross-border business. Although the proportion of cross-border goods trade volume in Shenzhen's foreign trade imports and exports has not increased significantly compared with the previous year, it is still low. The business amount in the first half of the year only accounted for 10% of imports and exports. 12.9%; in addition, 17 banks have not handled a single business since the launch of Shenzhen’s cross-border trade RMB settlement pilot. It can be seen that Shenzhen's cross-border trade settlement business still has great room for development, and greater efforts are still needed to promote this work.