The economic data for the first quarter of nine cities in the Pearl River Delta region has recently been released, showcasing a picture of robust growth and promising prospects. With a combined GDP exceeding 2.57 trillion yuan, an increase of over 110 billion yuan compared to the same period last year, the region has made a strong start, accounting for over 80% of the total GDP of Guangdong province.
Key Highlights:
Five cities, including Zhuhai, Shenzhen, Huizhou, Dongguan, and Zhongshan, outperformed both the provincial and national averages in terms of GDP growth.
Zhuhai leads the region with a growth rate of 6.7%, ranking second in the province.
Shenzhen's GDP maintains its position as the highest in the province, with industrial investment leading the way and total import and export volume surpassing 1 trillion yuan.
Guangzhou demonstrates resilience in industrial production, particularly in high-tech manufacturing sectors, while witnessing steady growth in service industries such as exhibition and travel agencies.
Foshan's industrial investment and service sector show rapid growth, with a focus on manufacturing excellence and cultural and recreational activities.
Huizhou's GDP growth ranks fourth in the province, with significant growth in industrial output and robust foreign trade performance.
Dongguan's emphasis on technological innovation and advanced manufacturing contributes to its solid economic performance, ranking fifth in the province.
Zhongshan leads the region in industrial technology renovation investment, supporting stable economic growth and expanding consumer markets.
Jiangmen achieves a stable start to the year, with remarkable growth in traditional industries and substantial investments in advanced manufacturing, leading to a historic high in import and export volume.
Zhaoqing benefits from the support of top enterprises, maintaining stable agricultural and industrial production and witnessing strong demand for upgraded consumer goods.
The first quarter data reflects a resilient and dynamic economy in the Pearl River Delta region, characterized by strong industrial production, steady investment growth, and a burgeoning service sector. Key drivers of growth include advancements in high-tech manufacturing, increased industrial investment, and robust foreign trade performance. Despite global economic uncertainties, the region's diversified industrial structure and focus on innovation have positioned it as a powerhouse driving Guangdong province's economic growth. And the positive momentum seen in the first quarter sets a solid foundation for continued growth and development in the Pearl River Delta region.
