China's major cities set target GDP growth for 2024

2024-01-23 Editor : Li Yan ECNS App Download

China's major economic powerhouses such as Beijing and Shanghai as well as the southern province of Guangdong have all set a GDP growth target for 2024 at around 5 percent.

Guangdong provincial governor Wang Weizhong told local lawmakers on Tuesday that Guangdong would aim for a 5 percent year-on-year growth of its economy this year, after achieving a 4.8 percent annual growth in 2023.

Wang unveiled the 2024 targets while delivering a government work report at the annual session of the Guangdong Provincial People's Congress.

The province's GDP reached 13.57 trillion yuan ($1.89 trillion) in 2023, topping all provincial regions for 35 consecutive years, according to the report.

The province's target is in line with goals already set by Beijing and Shanghai.

Shanghai mayor Gong Zheng said on Tuesday that the city is also targeting around 5 percent of GDP growth this year at the municipality's annual legislative session.

The city's GDP stood at 4.72 trillion yuan in 2023, up by 5 percent year-on-year, Gong said.

On Sunday, Beijing mayor Yin Yong announced that the Chinese capital aims to achieve around 5 percent of GDP growth this year.

Beijing's GDP exceeded 4.37 trillion yuan last year, up by 5.2 percent from a year earlier, Yin said.


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