The GDP of many places has reached a new level and the “trillion yuan club” has been expanded

2022-05-22 0 By

Jiangsu’s GDP totaled 11.64 trillion yuan last year, ranking fifth in China.The picture shows an ocean-going ro-ro ship loading cars at the port of Dongfang Corporation in Lianyungang.Recently, 31 provinces, autonomous regions and municipalities have released their 2021 GDP data and their 2022 economic growth targets.In terms of aggregate output, quite a few Chinese provinces achieved leapfrog breakthroughs in the past year, and more have maintained steady economic growth step by step.In terms of growth rate, all provinces achieved recovery growth in 2021, especially Hubei and Hainan.Looking at cities, The GDP of Beijing and Shanghai both exceeded 4 trillion yuan, while Dongguan became the 24th city in China with a GDP of over 1 trillion yuan, and the 4th member of the “1 trillion club” in Guangdong province.In 2021, the TOTAL GDP of several provinces reached a new level.Guangdong is a real GDP province.In 2021, Guangdong’s GDP reached 12.44 trillion yuan, making it the first and only province in China to reach 12 trillion yuan, ranking first in China for 33 consecutive years.Jiangsu’s GDP will reach 11.64 trillion yuan in 2021.Shandong province, 8.31 trillion yuan;Zhejiang’s GDP reached 7.35 trillion yuan.Henan’s GDP totaled 5.89 trillion yuan.Based on last year’s average exchange rate, the GDP of both Guangdong and Jiangsu provinces was larger than that of South Korea.The total volume of economic growth has reached a new level, and the economic growth rate has maintained high recovery growth.In 2021, Hubei province led the country in economic growth and achieved remarkable results.Tourists look at sugar paintings on Chuhehan Street in Wuchang, Wuhan, during the Spring Festival.In 2021, Hubei province ranked first in the country with a double-digit growth rate of 12.9 percent, while Hainan province achieved a high growth rate of 11.2 percent, followed by Shanxi, Jiangxi, Jiangsu, Zhejiang, Beijing, Shandong, Anhui, Chongqing and Sichuan.”2021 is a year of steady economic recovery in all regions, and the leading provinces are still ranked in the first tier, showing a trend of development of catching up with each other and seeking progress while maintaining stability.”Liu Xiangdong, deputy director of the Economic research Department of the China Center for International Economic Exchanges, told the Reporter that the report cards of various provinces in 2021 showed some new features — Hubei’s economic aggregate exceeded 5 trillion yuan.According to Liu Xiangdong, Hubei province has recovered more significantly than other parts of the country, with an economic growth rate of 12.9%, on the one hand due to the low base effect of minus 5% in 2020, and on the other hand due to the strong support given to Hubei since the outbreak of the epidemic.Hainan province showed outstanding growth.In 2021, hainan free Trade Port construction dividend will be initially released, and the growth rate of hainan’s GDP, fixed asset investment and total retail sales of consumer goods all ranks among the top in China.Liu Zigen, director of the Statistics Bureau of Hainan Province, said that the growth rate of major indicators in Hainan in 2021 was faster than that of the previous year, and the growth rate of major economic indicators in Hainan historically ranked among the top in China, fully demonstrating the strong impetus brought by the construction of the free trade port for economic and social development.New breakthroughs were made in per capita GDP growth.In 2021, China’s per capita GDP will exceed 80,000 yuan, or 12,500 U.S. dollars.The per capita GDP of Beijing, Shanghai and Jiangsu exceeded us $20,000, of which Beijing and Shanghai reached US $28,500 and US $27,000 respectively, getting closer to the US $30,000 mark.The “trillion club” will continue to expand in 2022, with Beijing and Shanghai both exceeding 4 trillion yuan in GDP and Dongguan becoming the 24th city to exceed 1 trillion yuan in GDP.On January 24, dongguan Bureau of Statistics announced the economic performance of Dongguan in 2021: The annual GDP of Dongguan in 2021 was 1085.535 billion yuan, with a year-on-year growth of 8.2% and a two-year average growth of 4.6%.As a result, Dongguan has become the 24th city in China with a GDP exceeding one trillion yuan, and the 4th city in Guangdong Province with a GDP exceeding one trillion yuan.Why does Dongguan stand out when shenzhen and Guangzhou are already two trillion yuan GDP cities in the Pearl River Delta?Liu xiangdong analyzed that this is mainly due to the clear division of labor in the Guangdong-Hong Kong-Macao Greater Bay Area.Dongguan is carrying the radiating and driving play of shenzhen and other cities, in the electronic information, electrical machinery, furniture, clothing, food and beverage, etc, to form strong industrial clusters, and other cities with large bay area formed good complementary facilities, attract more capital, talent, technology elements such as resources agglomeration, make it become the world’s workshop and manufacturing base,And in the opening up to the outside world in the forefront of the country.The number of “trillion club” cities is growing, and the economic aggregate of the top cities has reached a new level.In 2021, The GDP of Beijing and Shanghai will exceed the threshold of 4 trillion yuan, reaching 4,026.96 billion yuan and 4,321.485 billion yuan, respectively.In terms of growth rate, the actual GDP growth rate of Shanghai is slightly lower than that of Beijing.Shenzhen has become the third city in China to surpass 3 trillion yuan in GDP.Guangzhou and Chongqing followed with 2,823.197 billion yuan and 2,789.402 billion yuan, widening the gap from less than 1.7 billion yuan in 2020 to 33.795 billion yuan. The status of the four first-tier cities of Beijing, Shanghai, Guangzhou and Shenzhen has become more stable.Competition for “new members” is fierce.Wuhan, Hefei and Fuzhou were among the fastest growing cities in China, with real growth of 12.2 percent, 9.2 percent and 9 percent respectively, higher than the national average of 8.1 percent.The gap between Hefei and Jinan has further narrowed.A number of cities have set GDP exceeding one trillion yuan as their economic development goal.Changzhou and Xuzhou in Jiangsu have seen significant growth, with GDP reaching 880.758 billion yuan and 811.744 billion yuan respectively in 2021, becoming the “reserve army” of the next trillion yuan cities.Liu Xiangdong analysis: “During the 14th Five-year Plan, Yantai, Changzhou, Xuzhou, Tangshan, Dalian, Wenzhou, Kunming, Xiamen and other cities proposed to strive for a total GDP of one trillion yuan in the next few years.Judging from the current development situation, it will not be easy to achieve this goal, and these cities still need to make great efforts to join the ‘trillion yuan club’ as soon as possible.”Looking ahead to 2022, 30 provinces except Tianjin have put forward their economic growth targets for 2022 in the government work report, with Hainan topping the list with a target of around 9 percent, and Xizang with a target of around 8 percent.Industrial upgrading and consumption recovery are key to ensuring steady growth in all regions.Looking back at the report card of 2021, most of the provinces with the same growth in GDP volume and quality show strong emerging drivers, with advanced manufacturing accounting for a large proportion and high-tech industries increasing the driving force.In the New Year, local governments will place greater emphasis on industrial upgrading and high-quality development, prioritizing new energy, digital economy, intelligent manufacturing and the development of specialized and innovative “little giants”.Local governments have also made it clear that they will continue to promote consumption recovery.Since the end of last year, more than 30 cities, including Chongqing, Chengdu, Hefei, Zhengzhou and Nanjing, have successively introduced consumption vouchers.These coupons are mainly concentrated in areas such as catering, shopping, tourism and sports to boost consumption during the “two festivals”.According to Liu xiangdong, the recovery of consumption still faces many challenges, but it is still an important way for local governments to maintain steady growth.He suggested that local governments continue to promote urban renewal and the construction of consumer-oriented cities, speed up the domestic economic cycle, and take the initiative to improve the stability of economic growth.It is worth noting that the six central provinces set high growth targets for 2022.Hunan and Shanxi are set at 6.5 percent, and Henan, Anhui, Jiangxi and Hubei at 7 percent.In 2021, the total GDP of the six central provinces will reach 2.501325 trillion yuan, accounting for more than 20% of the national economic aggregate and gradually expanding its share.Henan’s GDP will reach 5.89 trillion yuan in 2021, making it the largest province in central China.Hubei’s GDP topped 5 trillion yuan for the first time, while Hunan’s reached 4.6 trillion yuan. Anhui’s GDP also crossed the 4 trillion yuan threshold last year.Shanxi and Jiangxi also have good growth momentum.Chen Yao, vice president of China Regional Economic Association, analyzed the catch-up trend formed in central China and the future development prospect of central China: “In 2021, the central Government specially issued opinions on promoting the high-quality development of central China, pointing out the direction for the development of central China.To build China into an important advanced manufacturing center, the central region will continue to give play to its advantages in energy and manufacturing.In particular, the country attaches great importance to the development of the real economy, and the central region will play an important role as the center of advanced manufacturing. The national manufacturing industry will be further concentrated in the central region, and its advantages in equipment manufacturing will be more prominent.””In 2022, China will face the triple pressure of demand contraction, supply shock and weakening expectations. Local governments will pay more attention to the guidance of expectations. Many provinces have lowered their economic growth targets, but they will still maintain a medium-high speed growth rate of over 5%.Liu Xiangdong thinks, this year regional economic development momentum is generally optimistic.(Original title: “GDP in many places reaches a new level,” Trillion club “expands again.Editor Kelly Wong)