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Large foreign trade volume highlights resilience of Guangdong's economy

The first press conference of the third session of the 14th Guangdong Provincial People's Congress was held in Guangzhou on January 15, 2025.

Guangdong Governor Wang Weizhong delivered the Government Work Report at the opening ceremony of the Guangdong Provincial People's Congress on the morning of January 15.

He stated that it is estimated that the GDP of Guangdong in 2024 will hit a new level and reach 14 trillion yuan, ranking first in the country for 36 consecutive years. Furthermore, according to Governor Wang, Guangdong's foreign trade volume has reached 9 trillion yuan, a 9.8% increase, ranking the first for 39 consecutive years, contributing 38.7% of the country's trade increase.

When answering GDToday's reporter's question, Zhang Jinsong, Director-General of the Department of Commerce of Guangdong Province, indicated that Guangdong's foreign trade volume hit the floor of trillion yuan twice in four years, which has shown the resilience of Guangdong's economy.

“Trading volume reached 19.4 billion USD and 10.86 billion USD in the Canton Fair and trading exhibitions organized by Guangdong in foreign countries,” said Zhang.

He stressed that exports to the US and EU from January to November increased by 7.3% and 9.9%, while exports to ASEAN, the Middle East, and Latin America increased by 11.1%, 9.1%, and 20.4%.

“From January to November, the import and export of electronic information products increased by 15.2%, the export of home appliances increased by 14.9%, the export of new energy vehicles increased by 39.8%, the export of drones increased by 17.3%, and the export of ships increased by 42.4%,” Zhang explained.

Zhang introduced that Guangdong will organize more than 36 thousand enterprises to attend the Canton Fair and promote the import and export of integrated circuits, chips, and other high-end spare parts and more. Moreover, Guangdong will provide high-quality services for the enterprises.

Ai Xuefeng, Director-General of the Guangdong Provincial Development and Reform Commission, indicated that Guangdong has a well-developed industry in emerging sectors such as the low-altitude economy and new energy vehicles.

“Guangdong's production of new energy vehicles from January to November has reached 3.15 million, which means that one of every four new energy vehicles in the country is 'made in Guangdong'. DJI accounts for more than 80% of the global civilian drone market,” said Xu.

“Guangdong ranks first place at the table of National Comprehensive Ability of Regional Innovation for 8 consecutive years,” said Wang Yueqin, Director-General of the Department of Science and Technology of Guangdong Province.

She indicated that Guangdong has carried out more than 3000 international cooperation projects and talent exchange initiatives. “Guangdong has signed over 350 projects with foreign institutions and attracted more than 380 foreign companies to set their R&D centers in the region.”

According to Wang, Guangdong will promote the development of quantum technology, brain-computer interfaces, high-end scientific instruments, 6G, and other future industries.

Reporter: Yuan Zixiang, Xie Hongzhou

Photo: Deng Yingheng

Editor: Ouyang Yan, Shen He

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