Powerhouse regions report 2023 GDP, with some exceeding nationwide average

As of Sunday, 12 Chinese provinces and municipalities had released their 2023 economic “report cards,” with nine reporting growth rates that surpassed the national average and five reaching new milestones in total output.

The figures highlighted the resilience and vitality of Chinese economic powerhouses, which are expected to drive the recovery of the world’s second-largest economy in 2024, experts said.

Among the 12, East China’s Shandong Province led with total output of 9.21 trillion yuan ($1.28 trillion), followed by Southwest China’s Sichuan Province with total output of 6.01 trillion yuan, and Central China’s Hunan Province third, with total output of 5 trillion yuan, data compiled by domestic news site thepaper.cn showed.

Nine of the 11 provincial-level regions outpaced the national average of 5.2 percent. For instance, South China’s Hainan Province registered growth of 9.2 percent, with North China’s Inner Mongolia Autonomous Region at 7.3 percent and Northwest China’s Gansu Province at 6.4 percent.

Currently holding the top position, Shandong reported a comprehensive economic recovery in 2023. It not only maintained its role as a major agricultural contributor but also exhibited highquality development in its industrial economy, notably in the thriving equipment manufacturing sector. In 2023, Shandong’s industrial added value for enterprises above designated size grew by 7.1 percent year-on-year, surpassing the national average by 2.5 percentage points, local government data showed.

Shandong, traditionally renowned as an industrial heavyweight, has been actively driving the transformation and upgrading of its manufacturing industry in recent years, and has further strengthened its competitiveness, Hu Qimu, deputy secretary-general of the digitalreal economies integration Forum 50, told the Global Times on Sunday.

“With strong resilience and huge potential, the economic powerhouses are expected to keep leading the recovery and growth of the national economy,” Hu noted.