Guangzhou's GDP in 2021 grew 8.1% year on year to 2.82 trillion yuan, according to Guo Yonghang, acting mayor of Guangzhou, who delivered the city's 2022 government work report on January 25 during Guangzhou's two sessions.
(Photo / Nanfang Daily)
Main statistics show the city's development in 2021 as follows. Last year, the city’s fixed asset investment exceeded 850 billion yuan, with a year on year increase of 11.7% and an average annual growth of 10%. The added value of the private economy, and the total volume of import and export of goods all exceeded one trillion yuan.
The city’s actual use of foreign investment was 224 billion yuan, with an average annual growth of 10% andGuangzhou has attracted investment from 330 Fortune Global 500 enterprises. Five Guangzhou companies were also included on the 2021 Fortune 500 list. The value of import and export to the markets along the “Belt and Road” has seen an average annual growth of 8.2%.
According to the work plans for 2022 in the government work report, the city will see a GDP growth of around 5.5% this year, the local general public budget revenue will increase 5% and the share of R&D expenditure in GDP will reach about 3.2%.
Guangzhou also targets to increase its role as an international business and trade center, a comprehensive transportation hub, and a scientific, technological and cultural center for the next five years.
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