Guangdong pledges to lead China’s economic growth

Guangzhou, China – On March 29, Guangdong Province reaffirmed its commitment to solidifying its position as a key player in China’s economy. Governor Wang Weizhong emphasized the province’s dedication to promoting high-quality development and leading modernization efforts.

As a major economic hub in China, Guangdong boasts a large economy, population, and foreign trade presence. In 2023, the province’s GDP reached 13.57 trillion yuan, accounting for 10% of the country’s total and ranking first for 35 consecutive years. For 2024, Guangdong has set an economic growth target of five percent.

To achieve this target, Guangdong will implement policies to expand investment, stimulate consumption, stabilize foreign trade, and create more job opportunities. Additionally, the province remains focused on the construction of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) in collaboration with Hong Kong and Macao SARs.

Governor Wang highlighted the importance of combining sci-tech innovation with industrial development. Guangdong plans to accelerate the growth of key industries such as integrated circuits, new energy storage, new energy vehicles, artificial intelligence, and more. The province aims to form new industrial clusters with output values exceeding 500 billion yuan and one trillion yuan.

Furthermore, Guangdong is committed to promoting rural revitalization by facilitating the transfer of industries from the Pearl River Delta to other regions within the province. This shift aims to promote balanced development across eastern, western, and northern Guangdong.

During a press conference, Wang and other senior officials addressed various topics, including Guangdong’s economic mission, construction of the GBA, urban-rural development, foreign investment, ecological initiatives, and advancements in bio-manufacturing and high-end manufacturing.

With a steadfast focus on driving economic growth through innovation and strategic development initiatives, Guangdong Province remains dedicated to contributing significantly to China’s overall economic progress. Stay tuned for more updates on Guangdong’s ongoing efforts to expand its economic influence and enhance its global competitiveness.

Source: GDToday.

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