Rich enough to be an enemy of the country!
On January 20, 2022, Guangdong, the largest province in the mainland's economy, lit up last year's "report card".
12.4 trillion yuan, an increase of 8% year-on-year, Guangdong not only became the only province in China with a GDP of more than 12 trillion yuan, but also ranked first in the country for 33 consecutive years.
Moreover, it is almost unsurprising that Guangdong will surpass South Korea and Canada for the first time, and the total GDP is slightly inferior to That of Italy, which ranks eighth in the GDP ranking of the world's major economies.
Catch up with South Korea and Canada
On the morning of January 20, at the Fifth Session of the 13th People's Congress of Guangdong Province, Wang Weizhong, acting governor of Guangdong Province, said in his report on the provincial government that in 2021, the GDP of Guangdong Province will reach 12.4 trillion yuan, an increase of 8% year-on-year, and Dongguan will become the fourth city in Guangdong Province with a total economic volume of more than one trillion yuan.
On the same day, the Guangdong Provincial Bureau of Statistics released statistics showing that in 2021, Guangdong's main development targets were successfully completed.
According to the results of the unified accounting of regional GDP, Guangdong's GDP in 2021 was 12,436.967 billion yuan, an increase of 8.0% year-on-year and an average growth of 5.1% in two years. Among them, the added value of the primary industry was 500.366 billion yuan, an increase of 7.9% year-on-year, an average growth of 5.8% in two years; the added value of the secondary industry was 5,021.919 billion yuan, an increase of 8.7% year-on-year, an average growth of 5.2% in two years; the added value of the tertiary industry was 6,914.682 billion yuan, an increase of 7.5% year-on-year, and an average growth of 5.0% in two years.
Source: Guangdong Provincial Bureau of Statistics
According to the Guangdong Provincial Bureau of Statistics, the GDP of Guangdong Province will be about 1.92 trillion US dollars in 2021.
In 2020, Guangdong's GDP ranked behind South Korea's by a slight margin. In that year, Guangdong Province's GDP was about 11,076.094 billion yuan, an increase of 2.3% year-on-year, equivalent to 1.6 trillion US dollars. In the same period, according to the information released by the Bank of Korea, the nominal GDP completed by the whole society of South Korea was about 1924.8 trillion won, an actual contract of 1% year-on-year, or 1.63 trillion US dollars.
On December 20, 2021, the South Korean government released the Economic Policy Directions 2022, which forecasts that the country's GDP growth rate will be 4% in 2021, reaching $1.7 trillion.
This means that Guangdong will surpass South Korea with an advantage of $0.22 trillion.
Not only that, Guangdong will also catch up with another economic powerhouse, Canada.
According to the data, in 2020, the nominal GDP completed by The whole of Canada will slightly exceed 2.2 trillion Canadian dollars, or 1.64 trillion US dollars. Authorities predict that Canada's economic growth rate is expected to be 5.4% in 2021, or reach $1.73 trillion.
In 2020, Canada and South Korea ranked ninth and tenth in the world in terms of total GDP.
This means that in 2021, Guangdong's GDP will rank among the "top ten in the world" for the first time, ranking "ninth".
In addition, Guangdong's total GDP is only one step away from Italy, which ranks eighth.
In 2020, Italy's total GDP was $1.89 trillion, ranking eighth in the world. On December 1, 2021, the Organisation for Economic Co-operation and Development released a new issue of the Economic Outlook report, showing that Italy's GDP will grow strongly by 6.3% in 2021. On November 17, 2021, the Italian Industrial Association predicted that Italy's GDP could grow by 6.4% in 2021.
According to this calculation, Italy's total GDP in 2021 will be about 2.01 trillion US dollars, only 90 billion US dollars ahead of Guangdong.
It is worth mentioning that China only surpassed Italy in terms of total GDP in 2000.
Ranked first in the country for 33 consecutive years
On the same day, the Fifth Session of the 13th People's Congress of Jiangsu Province opened, and Xu Kunlin, deputy secretary of the Jiangsu Provincial Party Committee and acting governor of Jiangsu Province, made a report on the provincial government, saying that he disclosed Jiangsu's 2021 report card.
In 2021, Jiangsu's GDP reached a new level of 11 trillion yuan, reaching 11.63 trillion yuan, an increase of 8.6%.
This means that Guangdong Province has become the only province in the country with a GDP of more than 12 trillion yuan and has ranked first in the country for 33 consecutive years.
Looking back, Guangdong's economy has more than a remarkable point in 2021. According to data from the Guangdong Provincial Bureau of Statistics, in 2021, the added value of industries above designated size in Guangdong will be 3.75 trillion yuan, an increase of 9.0% year-on-year, an average growth rate of 5.2% in two years, and the growth rate will basically return to the pre-epidemic level.
According to statistics, in 2021, the recovery of industries in Guangdong Province will accelerate, and the growth of the province's major industries will be 92.3%, an increase of 2.6 percentage points over the previous three quarters. In the pillar industries, the electrical machinery and equipment manufacturing industry and the automobile manufacturing industry recovered better than the overall industries above designated size, and the added value increased by 13.4% and 9.4% respectively year-on-year. The added value of high-tech manufacturing increased by 6.9% year-on-year, accounting for 29.9% of the added value of industries above designated size; among them, the manufacturing of biological drugs, sanitary materials and medical supplies increased by 44.3% and 28.0% respectively year-on-year. The added value of advanced manufacturing industry increased by 6.5% year-on-year, accounting for 54.2% of the added value of industries above designated size; of which the added value of new energy equipment manufacturing increased by 19.9%. The output of strategic emerging industry products increased well, among them, industrial robots increased by 56.5% year-on-year, integrated circuits increased by 30.3%, and new energy vehicles increased by 155.6%.
Wang Weizhong said in his report that to do a good job in economic and social development in 2022, it is necessary to adhere to the principle of steady word and steady progress, and the main expected goals of Guangdong's economy in 2022 are: regional GDP growth of about 5.5%; fixed asset investment growth of 8%, total retail sales of social consumer goods increased by 6.5%, total import and export increased by 3%; industrial added value above designated size increased by 5.5%; local general public budget revenue increased by 5%; per capita disposable income growth of residents is basically synchronized with economic growth. Consumer prices rose by 3%; 1.1 million new jobs were created in cities and towns, and the unemployment rate in urban surveys was controlled within 5.5%.
According to the above goals, in 2022, the total GDP of Guangdong Province will exceed 13 trillion yuan, reaching a new level.
Column Editor-in-Chief: Qin Hong Text Editor: Song Hui Title Map Source: Shangguan Title Map
Source: Author: Shanghai Securities News