In the first half of 2024, nine cities in the Pearl River Delta region, namely Guangzhou, Shenzhen, Dongguan, Zhuhai, Foshan, Zhongshan, Huizhou, Jiangmen, and Zhaoqing, collectively contributed over 5.32 trillion yuan, marking an increase of about 203.48 billion yuan compared to the same period in 2023 when it stood at 5,120.26 billion yuan.
Shenzhen, Guangzhou, Foshan, and Dongguan, whose GDPs exceed RMB 1 trillion, have significantly contributed to the overall economic expansion. Shenzhen took the lead, registering a GDP of 1,730.222 billion yuan, followed closely by Guangzhou with 1,429.766 billion yuan. Foshan and Dongguan reached 612.289 billion yuan and 568.680 billion yuan respectively.
All nine cities reported positive growth rates, with Shenzhen, Dongguan, and Huizhou particularly distinguishing themselves by exceeding the 5% mark. Specifically, Shenzhen grew by 5.9%, Dongguan by 5.3%, and Huizhou by 5.1%.
Substantial increase in foreign trade
Labeled as the "World's Factory," the Pearl River Delta region displayed a robust rebound in foreign trade during the first half of 2024. Shenzhen's total import and export volume exceeded 2.2 trillion yuan, setting a new record for the same period and surpassing half of Guangdong Province's total. Huizhou also achieved a record-high import and export volume of 185.24 billion yuan, up 22.7% year-on-year.
Zhongshan, Zhuhai, and Jiangmen also witnessed double-digit growth in import and export volumes, with growth rates of 12.6%, 10.8%, and 10.7% respectively. Jiangmen, in particular, set new highs for both its import and export volumes.
Emerging industries demonstrate rapid growth
The secondary industry, especially manufacturing, played a prominent role in driving economic growth. Five cities in the region achieved double-digit growth in industrial investment, with Shenzhen leading the way at 49.2%. Guangzhou, Zhongshan, Dongguan, and Foshan also posted growth rates of 24.6%, 21.0%, 13.8%, and 12.1% respectively.
In terms of added value of industrial enterprises above a designated size, Shenzhen, Dongguan, and Huizhou registered growth rates of 12.0%, 10.0%, and 9.2% respectively.
Emerging industries continued to thrive, as evidenced by the robust growth in high-tech sectors. Shenzhen's added value of computer, communication, and other electronic equipment manufacturing increased by 17.0%, while Dongguan's electronic information manufacturing grew by 19.9%, and Huizhou's electronics industry expanded by 12.4%.
Specific products within these industries also demonstrated remarkable growth. Shenzhen's 3D printing equipment, service robots, and electronic components production increased by 83.3%, 37.6%, and 29.1% respectively. Dongguan's smartwatches, routers, 5G smartphones, and integrated circuit production surged by 135.8%, 96.1%, 33.4%, and 20.6% respectively.
The aerospace sector also shone, with Foshan's aerospace and aircraft equipment manufacturing growing by 34.8%, and the added value of Shenzhen's low-altitude economy and aerospace cluster growing by 32.4%.
Reporter | Abby
Poster丨Mia
Editor | Nan, James
Grace also contributed to the report.
