Guangdong Province's GDP Surpasses 10 Trillion Yuan... 6.7% Growth Last Year

[Asia Economy Reporter Lee Hyun-joo] Guangdong Province, the export manufacturing hub of China, has become the first Chinese province to surpass a domestic gross product (GDP) of 10 trillion yuan, equivalent to 1680 trillion Korean won.

According to Hong Kong Ming Pao, Guangdong's GDP grew by 6.3% last year compared to the previous year.

Guangdong became the first Chinese province to exceed a GDP of 10 trillion yuan. Foshan City in Guangdong became the third city in the province, after Guangzhou and Shenzhen, to surpass a GDP of 1 trillion yuan.

However, the 6.3% growth rate is the lowest recorded in Guangdong over the past 40 years.

Ma Xingrui, Governor of Guangdong Province, stated, "Following the 'Dawan District Plan' fully supported by the central government, we will foster Guangdong as a global center of scientific and technological innovation with global influence and continue growth."

The Dawan District Plan is a Chinese government initiative to develop a world-class innovation economic zone similar to the United States' Silicon Valley by 2035, linking nine cities in Guangdong including Shenzhen and Guangzhou, along with Hong Kong and Macau.

The Guangdong provincial government has set this year's GDP growth target at around 6%.

This content was produced with the assistance of AI translation services.