To kickstart 2024 with a focus on sustainable development, provinces across the Chinese mainland have initiated a series of measures aimed at promoting innovation, enhancing business environments, and expanding international openness.
These initiatives are part of a broader strategy to ensure economic stability and foster high-quality growth, aligning with directives from last year’s annual Central Economic Work Conference. Top officials emphasized the pivotal role of China’s major economic provinces in contributing to national economic stability.
In their \"first meetings for the Chinese New Year,\" these regions outlined comprehensive task lists for 2024, highlighting industrial and technological innovation and the development of new competitive fields. Building a modern industrial system through technological innovation is a common theme among these plans.
South China’s Guangdong Province, which surpassed a GDP of 13 trillion yuan ($1.86 trillion) last year, held its first meeting dedicated to high-quality development. Officials at the provincial-level meeting emphasized Guangdong’s mission to lead high-quality development by leveraging its substantial technological innovation resources and capabilities. The province has set an ambitious target of 5 percent GDP growth for 2024.
Similarly, East China’s Anhui Province focused on creating a top-tier business environment and advancing the high-quality development of the private sector, making these central to its economic agenda for the year. The meeting also continued the tradition of recognizing outstanding entrepreneurs for the third consecutive year.
Northeastern Liaoning Province is optimizing its business environment with the goal of achieving economic growth rates above the national average. The province emphasized the need for swift action and efficiency to achieve economic milestones in the first quarter, aiming for a robust start to the year.
Professor Sun Chuanwang from Xiamen University's School of Economics commented that these strategic emphases reflect a targeted approach by the provinces to their developmental roles. By focusing on specific areas to stabilize the overall situation and fostering new capabilities through structural adjustments and industrial upgrades, these initiatives are expected to significantly enhance the quality and sustainability of China’s economic growth.
Reference(s):
Chinese regions launch renewed drive for high-quality growth
cgtn.com
