CHINA GDP of China's Guangzhou tops 2.5 trln yuan in 2020

CHINA

GDP of China's Guangzhou tops 2.5 trln yuan in 2020

Xinhua

22:03, January 29, 2021

GUANGZHOU, Jan. 29 (Xinhua) -- The GDP of Guangzhou, capital of south China's Guangdong Province, grew 2.7 percent year on year to exceed 2.5 trillion yuan (about 388.25 billion US dollars) in 2020, local authorities said Friday.

File photo of Guangzhou by CFP

During the 13th Five-Year Plan period (2016-2020), Guangzhou's GDP increased from nearly 1.86 trillion yuan to over 2.5 trillion yuan, with an average annual growth rate of 6 percent, said Feng Jun, vice head of the Guangzhou Statistics Bureau, at a press conference.

The city's per capita GDP of local residents exceeded 20,000 US dollars, Feng said, adding that agricultural production in Guangzhou has been growing at the fastest rate in 26 years.

The output value of the city's three pillar industries -- automobile manufacturing, electronic product manufacturing and petrochemical manufacturing -- increased by 3.7 percent year on year in 2020, with the auto industry posting double-digit growth for seven months during the year.

The metropolis has also seen a boom in new forms of businesses.

Last year, the new-generation information technology industry in Guangzhou rose by 11.6 percent year on year. The annual output of integrated circuits, new energy vehicles, lithium-ion batteries and face masks increased by 34.1 percent, 17.3 percent, 42.3 percent and 9.1 times, respectively. The internet, software and information technology services saw revenue growth of 14.3 percent year on year.

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