Provincial legislatures and political advisory bodies across China have recently convened their local \\"two sessions\\" of the National People's Congress and the Chinese People's Political Consultative Conference. During these sessions, they outlined comprehensive plans for the upcoming year aimed at promoting the integration of technological and industrial innovation, expanding effective demand, and developing new quality productive forces tailored to regional needs.
In a significant economic milestone for 2024, Guangdong became the first province in China to surpass a total economic output of 14 trillion yuan ($1.9 trillion). This remarkable achievement underscores Guangdong's pivotal role in the nation's economy. Meanwhile, Jiangsu witnessed its high-tech industries account for more than 50 percent of the value added to large-scale industrial production for the first time, highlighting the province's emphasis on innovation-driven growth. Shandong too made strides, with its digital economy now representing over 49 percent of its GDP, demonstrating a strong shift towards digitalization and technological advancement.
As 2025 marks the final year of China's 14th Five-Year Plan, major economic provinces have set ambitious growth targets. Guangdong aims for an economic growth rate of approximately five percent, aligning with its previous performance. Henan has set a slightly higher target of around 5.5 percent, while both Shandong and Jiangsu are targeting growth rates of five percent or higher. Sichuan is among the leaders, aiming for a growth rate of over 5.5 percent. These targets reflect a nationwide commitment to sustained economic growth and the continued integration of technological and industrial innovations across various regions.
Reference(s):
cgtn.com
