On January 23, south China's Guangdong Province released its 2024 Government Work Report. According to the report, Guangdong's GDP reached 13.57 trillion yuan in 2023, with a growth rate of 4.8%. As China's largest provincial economy, Guangdong has been the top-ranking province in terms of economic output for 35 consecutive years, becoming the first province in China to surpass a GDP of 13 trillion yuan.

China is an important engine of global development. Statistics show that over the years, its contribution to world economic growth has stayed at around 30 percent. According to Guangdong Statistics Bureau, Guangdong accounted for one-tenth of China's GDP last year. It means that Guangdong plays a significant role in the development of the world economy.

Guangdong has set a 5 percent GDP growth target for 2024, following the instructions from the central government of China that major economically developed provinces should play a leading role in making greater contributions to the steady growth of the national economy. This year, let's wait and see what contributions Guangdong will make to the global economy.

Source | cnbayarea.org.cn & GDToday