The regional GDP of Guangdong province, an economic powerhouse in South China, is expected to surpass 15 trillion yuan ($2.05 trillion) in 2025, with a year-on-year increase of about 5 percent, according to a blueprint on the province’s economic and social development outlook.
Coordinated efforts of stock, incremental policies and new quality productive forces will help accelerate the province’s economic development, according to the blueprint released by the Guangdong Academy of Social Sciences on Thursday.
Upgrading of large-scale equipment will help drive industrial investment growth, with construction in the infrastructure sector accelerating, leading to rapid growth in related investments, the blueprint said.
In terms of key technological innovation, Guangdong’s R&D expenditure rate will maintain stable growth and is expected to reach 3.6 percent for the year.
Efforts in integrated development of education, technology talent and increased financial support, along with the comprehensive implementation of the Regional Comprehensive Economic Partnership, are expected to provide fresh opportunities for the deepening development and iterative power of Guangdong industries.
The province’s imports and exports are expected to exhibit a U-shaped trend, with the total trade value reaching 9.6 trillion yuan, influenced by the expansion of high-tech product exports and other factors, according to the blueprint.
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