A worker inspects a vehicle before it rolls off the production line at an automobile manufacturing factory in Qingdao, east China's Shandong Province, Jan 14, 2023. Photo:Xinhua

A total of 11 provinces and municipalities in China have released their economic "report cards" for the year 2023 as of Saturday, among which eight reported growth rates surpassing the national average, while five have reached new milestones in total output. This highlighted the growth resilience and vitality of major Chinese economic powerhouses which are expected to further lead the recovery of the world's second largest economy in 2024.

Among the 11 provinces and municipalities, East China's Shandong Province took the lead with a total output of 9.21 trillion yuan ($1.28 trillion), followed by Southwest China's Sichuan Province in second place with a total output of 6.01 trillion yuan, and Central China's Hunan Province in third place with a total output of 5 trillion yuan,

From the perspective of growth rate, eight of the 11 provincial-level regions outpaced the national average of 5.2 percent for the year 2023. For instance, South China's Hainan Province registered growth of 9.2 percent, Northwest China's Gansu Province at 6.4 percent, Northeast China's Jilin Province at 6.3 percent, Southwest China's Chongqing Municipality at 6.1 percent, and both Shandong and Sichuan at a growth rate of 6 percent, data compiled by domestic news site thepaper.cn showed.

China on Wednesday posted a robust GDP growth of 5.2 percent for 2023, beating the government's pre-set yearly target of around 5 percent.

Shandong, Sichuan, and Hunan have achieved significant milestones in their annual output, breaking through 9 trillion yuan, 6 trillion yuan, and 5 trillion yuan respectively for the first time; while Chongqing Municipality and Liaoning Province have entered the "3-trillion-yuan club."

In line with the national economy which gathered pace in the fourth quarter of 2023, Hunan, North China's Hebei Province, Beijing, Chongqing, and Jilin all experienced an accelerated growth in their annual GDP, comparing to their respective figures for the first three quarters of the year.

As of Saturday, other major economic powerhouses such as South China's Guangdong Province, East China's Jiangsu and Zhejiang provinces and Central China's Henan Province have yet to release their economic data.

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 high-quality 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.

Hainan is currently leading in terms of growth. Yang Lei, head of the Hainan Provincial Bureau of Statistics, mentioned that in the first three quarters of 2023, the province maintained stable growth with an economic expansion of 9.5 percent. As the momentum continued into the fourth quarter, its annual economic growth reached 9.2 percent, surpassing the national average by 4 percentage points.

During the key annual Central Economic Work Conference held in December 2023, Chinese leaders once again underscored the responsibility of major economic provinces to "shoulder the mainstay."

The meeting called to better coordinate efforts to address local government debt risks and ensure steady development. "Major economic provinces need to truly take on a leading role and make more significant contributions to stabilizing the national economy," it said.

Global Times