In the first half of 2024, Guangdong Province’s gross domestic product (GDP) reached 6.52 trillion yuan (910 billion U.S. dollars), a year-on-year increase of 3.9%, three times higher than the same period last year. Chinese Media coverage have Reported.
Of the province’s 21 municipalities, the economy of the northern city of Jieyang grew fastest during the period: 7.1% year-on-year. The GDP of this small city with a population of about 1.3 million totaled 121.08 billion yuan (US$16.8 billion).
As expected, Guangdong’s two largest cities – Shenzhen and Guangzhou – lead in terms of economic size. Shenzhen’s GDP 1.73 trillion yuan (US$240 billion), up 5.9% year-on-year. 1.43 trillion yuan ($198 billion), a significantly smaller increase of only 2.5%.
[See more: The Greater Bay Area’s economic output last year neared US$2 trillion]
Foshan and Dongguan followed closely behind, with GDP of RMB 600 billion (US$83 billion) and RMB 500 billion (US$69 billion), respectively. Shantou ranked third in terms of growth rate, with a growth rate of 5.4%, after Jieyang and Shenzhen.
Among the 26 cities in the country whose GDP will exceed 1 trillion yuan (139 billion US dollars) in 2023, Shenzhen, Guangzhou, Foshan and Dongguan ranked 3rd, 5th, 20th and 24th respectively.
Shenzhen’s strong economic growth in the first half of the year was mainly due to industrial enterprises and foreign trade, Shantou was mainly due to agricultural production, real estate investment and foreign trade, and Jieyang was mainly due to the green petrochemical industry, but foreign trade also saw a significant increase.
[See more: Hengqin GDP up more than 6 percent in first half of 2024 compared to prior year]
Nationally, Guangdong’s GDP accounts for nearly 11% of the mainland’s total output. It is China’s largest province in terms of economic productivity. The Guangdong provincial government has said it intends to develop its economy. 5% This year’s growth rate is higher than the 4.8% in 2023 (when it was 13.57 trillion yuan). [US$1.9 trillion]).
The national government also set a goal It is expected to grow by 5% in 2024.
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