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2023: China's Greater Bay Area posts nearly $2 trillion in economic output


The total economic output of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) exceeded 14 trillion yuan (about $1.97 trillion) in 2023, achieving one-ninth of China's total with less than 0.6 percent of the national territorial area, local authorities have revealed.

Zhu Wei, executive deputy director of the GBA office in Guangdong, said the GBA's total economic output was 10.8 trillion yuan in 2018, and it has increased by 3.2 trillion yuan over the past five years.

The GBA has also seen an improved scientific and technological innovation capacity, transportation network, more facilitating platforms and a better business environment, Zhu said.

The Greater Bay Area is now home to over 75,000 national-level high-tech firms, including the leading technology companies such as Huawei Technologies, Tencent Holdings and BYD Auto.

According to Zhu, the annual passenger throughput capacity of the GBA airport cluster exceeds 280 million people. Meanwhile, the annual handling capacity at ports surpassed 85 million standard containers.

(With input from Xinhua)

(Cover: A view of Mawan Smart Port in Shenzhen City, south China's Guangdong Province, January 5, 2024. /CFP)

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