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Luohu's gross domestic product (GDP) witnessed a 9.4% year-on-year  surge in the first half of this year, reaching 140.44 billion yuan ($19.6 billion), according to data released by the district government on July 31.
Notably, the value added of Luohu's financial industry accounted for nearly 40% of its GDP. Furthermore, its financial sector's growth rate in the first half of the year ranked first among all the city's financial industry agglomeration areas.
Two trends are prominent in the district's economic operations. First, the tourism industry has shown rapid recovery. The revenue of travel agencies above designated size and related service industries surged by more than 170% year on year in the first half of the year, contributing over 140% to the growth of for-profit service industries above designated size.
Second, bolstered by e-commerce and live-streaming businesses, the retail industry has demonstrated steady growth.