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. These gatherings have outlined comprehensive plans for the year ahead to promote the integration of technological and industrial innovation, expand effective demand, and develop new quality productive forces tailored to regional needs.
In 2024, Guangdong became the first province in China to surpass a total economic output of 14 trillion yuan ($1.9 trillion). This milestone highlights the province's robust economic growth and its leading role in the nation's development. Meanwhile, Jiangsu witnessed its high-tech industries accounting for more than 50 percent of the value added to large-scale industrial production for the first time, signaling a significant shift towards innovation-driven growth. Shandong's digital economy now represents over 49 percent of its GDP, underscoring the province's commitment to digital transformation.
As 2025 marks the final year of China's 14th Five-Year Plan, major economic provinces have set ambitious growth targets. Guangdong aims for approximately 5 percent growth, Henan is targeting around 5.5 percent, and both Shandong and Jiangsu are setting sights on 5 percent or higher. Sichuan is aiming for a growth rate of over 5.5 percent. These targets reflect a collective drive to enhance economic vitality and ensure sustained development across the Chinese mainland.
The focus on technological and industrial innovation, coupled with regional development strategies, positions these provinces to contribute significantly to China's overall economic goals. By expanding effective demand and nurturing new quality productive forces, they aim to foster a resilient economy that can adapt to global challenges and opportunities.
Reference(s):
cgtn.com
