Emerging and financial industries are the backbones of Luohu’s economy
Luohu has firmly grasped the new trend of global industrial development. It has prioritized the financial, strategic emerging, business service, and trade industries and comprehensively upgraded industrial development levels over recent years.
The district is committed to building a high-level economic cluster area and a new highland of strategic emerging industries.
According to the Luohu government, the district takes innovation as the primary driving force for high-quality development and accelerates the construction of an innovation-driven industrial system.
Focusing on the layout of core industries such as new-generation information technology, life and health, and new materials, Luohu has been building a cluster of innovative industries and a base for artificial intelligence industries.
Last year, Luohu attracted 45 sci-tech enterprises. In addition, the assets of Luohu’s financial industry accounted for about one-third of the city’s total. In 2020, the annual added value of the financial sector in Luohu reached 93.69 billion yuan ($14.18 billion), an increase of 8.5%, accounting for nearly 40% of the district’s GDP. It is fair to say that the financial industry has become the ballast stone of the economy in Luohu.
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