As many places across the country enter the "two sessions" in 2024, the 2023 economic "annual report" has been announced one after another. As of January 29, 30 provinces (autonomous regions and municipalities directly under the central government) have announced the economic situation for the whole year of 2023. Judging from public information, a total of 16 provinces outperformed the country's growth rate, of which 7 provinces belong to the western region and 2 provinces belong to the central region.
Tian Lihui, dean of the Institute of Financial Development of Nankai University, told reporters that the provinces that outperform the country can actively explore new paths and new models suitable for their own development, and can make significant progress in optimizing the economic structure, developing emerging industries, and improving the business environment, so as to promote the steady growth of the national economy.
Growth rate in 16 provinces
Outperform the country
According to the National Bureau of Statistics, China's gross domestic product (GDP) for the whole year of 2023 will be 1260582 billion yuan, an increase of 5 percent over the previous year at the same level**2%。
According to the reporter, in 2023, 16 provinces will outperform the country's growth rate, and Beijing will be the same as the country. All provinces with disclosed data have achieved positive GDP growth. Among them, the GDP growth rate reached 95%, temporarily leading the country; It was followed by Hainan with an increase of 92%；Inner Mongolia grew by 73% ranked third. Other provinces with growth rates of more than 6% include Ningxia, Gansu, Jilin, Chongqing, Shandong, Sichuan, Zhejiang and Hubei.
Ming Ming, chief economist of CITIC, told reporters that from the perspective of economic growth, the economic growth rate of the western region and the more developed provinces in the east is faster. Judging from the characteristics of economic operation, the former has undertaken industrial transfer under the strategy of large-scale development of the western region, and the growth rate of investment has been relatively fast. The latter continues to play a leading role in this year's recovery. On the one hand, it has a higher degree of opening up to the outside world, the private economy is more active, the talent dividend can be fully utilized, and the endogenous driving force of the economy is strong. On the other hand, the policy implementation of the eastern provinces is relatively intensive, and the ability to guide investment is strong.
In 2023, the economic growth of some provinces outperformed the national average growth rate, mainly due to the accelerated recovery of their industrial and service sector growth, especially the rapid growth of the service sector, which showed good performance in the context of the recovery of consumption acceleration. Liu Xiangdong, deputy director of the Economic Research Department of the China Center for International Economic Exchanges, said that Hainan, Inner Mongolia, Gansu, Jilin and other provinces have recovered rapidly under the dual support of the recovery of traditional industries and the release of new kinetic energy, and with the help of favorable national policies, showing the characteristics of rapid recovery of light equipment. Shandong, Zhejiang and other eastern coastal provinces have accelerated the transformation of old and new kinetic energy, continuously optimized the economic structure, and accelerated the cultivation of emerging industries, so as to promote the effective improvement of quality and reasonable growth in quantity.
In terms of economic aggregates, Guangdong, Jiangsu and Shandong occupy the top three economic aggregates of Chinese provinces in 2023, all exceeding 9 trillion yuan. In particular, Guangdong, as the largest province in terms of economy, has become the first province in the country with an annual GDP exceeding 13 trillion yuan, and its economic aggregate has ranked first in the country for 35 consecutive years.
In Tian Lihui's view, as a major economic province in China, Guangdong's industrial growth is driven by emerging industries such as new energy vehicles, photovoltaics, and wind power. Jiangsu has vigorously promoted the rapid development of emerging industries and the transformation and upgrading of traditional industries, and has made remarkable progress in high-tech industries, new materials, intelligent manufacturing and other fields; The transformation and upgrading of traditional industries in Shandong has accelerated, and emerging industries have developed rapidly, especially in promoting the conversion of old and new kinetic energy.
Plan the layout in many places
Emerging industries
According to the reporter's statistics, 27 provinces have set growth targets for 2024, and Guangdong, Jiangsu, Shandong, Zhejiang and other major economic provinces have growth targets of about 5% or more this year, and Hainan is expected to grow by about 8%.
Stabilizing expectations is crucial for economic development, and economic growth targets should be set reasonably and steadily, so as to enhance the confidence of enterprises and markets, and promote investment and consumption. Tian Lihui said that the setting of economic targets for 2024 in various regions takes into account stability, differentiation and sustainability, and is reasonable and orderly. Regulators need to promote high-quality economic development by stabilizing expectations, boosting the confidence of market players, achieving sustainable development and improving people's livelihood and well-being.
As for how to accomplish the predetermined goals, many places have planned the layout of the key points in the development of emerging industries, and new quality productivity and new industrialization have become the focus of attention.
For example, Chongqing proposed to insist on putting the high-quality development of the manufacturing industry in a more prominent position, persistently grasp the leading ecology, promote industrial agglomeration, technological innovation, and integrated development, and vigorously cultivate new quality productivity; Guangdong proposes to adhere to the real economy-oriented, manufacturing industry, build a more internationally competitive modern industrial system, and accelerate the formation of new quality productivity; Jiangsu proposes to empower new industrialization in an all-round way with artificial intelligence, and deeply implement "intelligent transformation and digital transformation to networking".
With the gradual weakening of real estate, infrastructure investment and other kinetic energy, all localities need to accelerate the cultivation and development of new kinetic energy, so it is necessary to promote industrial innovation with scientific and technological innovation, cultivate new quality productivity, and accelerate the development of new industrialization. Liu Xiangdong believes that to promote the acceleration of the transformation of new and old kinetic energy, cultivate enough to support the expected economic goals of the new driving force, so that economic growth is based on a solid industrial technology foundation, and has the stamina to maintain medium and long-term healthy development.