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Guangdong will step up efforts to help the nation’s economy, its governor says

Wang Weizhong says the province is aiming for five percent economic growth this year, and sees the Greater Bay Area as playing a key role.

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PUBLISHED

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Less than 1 minute Minutes

Wang Weizhong says Guangdong province will “shoulder major responsibility” in shoring up the mainland’s sluggish economy, the South China Morning Post reports.

At a meeting of the provincial legislature on Tuesday, the governor vowed to grow Guangdong’s economy by five percent over the coming year – up from 4.8 percent in 2023. He also promised to make the Greater Bay Area (GBA) a top priority in 2024.

China’s policymakers are looking to Guangdong and Zhejiang provinces in particular to drive the nation’s rebound.

[See more: Guangdong’s foreign trade hit a record high last year]

“We will pace up construction of a world-class bay area, turn it into the best-developed bay area and better play a role to lead and support the overall economic development,” Wang pledged. He added that Guangdong would “join hands with Hong Kong and Macao” as part of the effort to ramp up the GBA’s role.

The governor said his province would support the private sector – seen as the backbone of the Guangdong economy – and create more job opportunities as part of its efforts to “shoulder major responsibility” in fixing China’s current economic downturn. Increasing regional transport links, developing talent and boosting production of industrial software would be other key focuses.

The GBA is set to mark its fifth anniversary this year. President Xi Jinping has said that he would like to see it rival other bay areas encompassing major metropolitan zones, such as Tokyo and San Francisco.

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