Recently, the 2024 economic performance reports of various provinces have been released one after another. In the complex and severe situation of increasing external pressure and internal difficulties, various regions have strengthened efforts to improve efficiency and implement the policy of increasing stock. The overall economic operation of the region is stable and steady, with new breakthroughs in the total economic output of many regions. 70% of provinces have achieved growth rates that exceed or remain at the national level. Advanced inventory of local economy in 2024, "breakthrough" is a high-frequency word. Especially for economically major provinces, they play a significant role, with the total economic output of the top six provinces reaching nearly 60 trillion yuan. Guangdong has become the first province in China to surpass a total economic output of 14 trillion yuan, with a regional GDP of 1.4163381 trillion yuan in 2024. Over the past five years, it has surpassed five trillion yuan levels, and its total economic output has been ranked first in the country for 36 consecutive years. The total import and export volume has exceeded 9 trillion yuan, ranking first in the country for 39 consecutive years. The total tourism revenue has exceeded 1 trillion yuan, and the total marine production value has exceeded 2 trillion yuan. The number of operating entities has exceeded 19 million, including over 8.3 million enterprises, ranking first in the country in terms of total volume. There have been new breakthroughs in the economic development of the three provinces and one city in the Yangtze River Delta. In 2024, Jiangsu's total economic output will reach 1.37008 trillion yuan, continuing to rank second in the country; The economic increment is 608.4 billion yuan, ranking first in the country. The total economic output of Zhejiang has exceeded 9 trillion yuan, the import and export scale has surpassed 5 trillion yuan for the first time, and the number of private enterprises with export performance has exceeded 100000 for the first time. Anhui's total economic output has reached a new level of 5 trillion yuan, and Shanghai has become the first city in China with an economic scale exceeding 5 trillion yuan. As the largest province in the northern economy, Shandong's regional GDP in 2024 is 9856.6 billion yuan, just one step away from the "10 trillion yuan" target. The gross domestic product of Sichuan and Henan regions is 6.4697 trillion yuan and 6.358999 trillion yuan respectively. The total economic output of Hubei has exceeded 6 trillion yuan, reaching 6001.297 billion yuan. The gross domestic product (GDP) of Fujian and Hunan regions were 5776102 billion yuan and 5323099 billion yuan, respectively. In addition, the gross domestic product of Xinjiang region has exceeded 2 trillion yuan. In 2024, various regions will continue to amplify the combined effects of existing policies and a package of incremental policies, guided by the "dual" and "two new" policies, effectively boosting social confidence and promoting economic recovery and improvement. From the perspective of year-on-year growth rate, 22 provinces have outperformed or remained at the "national line" in terms of growth rate. Among them, Xizang led the way with a growth rate of 6.3%, Xinjiang grew by 6.1% year on year, Jiangsu, Hubei, Anhui, Inner Mongolia and Gansu grew by 5.8%, Shandong, Sichuan and Chongqing grew by 5.7%, Zhejiang and Fujian by 5.5%, Hebei and Ningxia by 5.4%, Shaanxi and Guizhou by 5.3%, Beijing by 5.2%, Henan, Jiangxi, Liaoning and Tianjin by 5.1%. Shanghai's year-on-year growth rate is 5%, which is on par with the national growth rate. The growth rate of Xizang, Anhui, Jiangxi, Henan, Shaanxi and other provinces also showed a seasonal acceleration. The momentum towards new China has entered a stage of high-quality development. Observing the trend of economic development, we should not only focus on the "quantity" of growth, but also on the "quality" of development and the "effectiveness" of transformation. In 2024, various regions will develop new quality productive forces according to local conditions, accelerate the transformation of old and new driving forces, and provide strong support for economic stability and progress. In the eastern region, the proportion of added value of advanced manufacturing and high-tech manufacturing industries in Guangdong Province's scale above industries has increased to 56.7% and 31.6%, respectively. Industrial investment has exceeded 1.5 trillion yuan, and technological transformation investment has maintained double-digit growth for 24 consecutive months. The manufacturing industry has a stronger foundation and has established a first mover advantage in many new fields and tracks. The High Quality Development Index of Jiangsu Province's manufacturing industry has been ranked first in the country for four consecutive years, with the number of newly added unicorn and potential unicorn enterprises, national advanced manufacturing clusters, and national specialized, refined, and new "little giant" enterprises all ranking first in the country. The output value of high-tech industries has exceeded 50% of the proportion of large-scale industries for the first time. In the central region, the added value of high-tech manufacturing in Hunan Province increased by 13.7%, an increase of 10 percentage points compared to the previous year, and the investment in high-tech industries increased by 7.4%, an increase of 3.4 percentage points compared to the previous year; The operating revenue of emerging service industries such as Internet and related services, professional technical services, research and experimental development, science and technology promotion and application all achieved double-digit growth. The added value of high-tech manufacturing and strategic emerging industries in Henan Province increased by 12% and 9.2% year-on-year, respectively, which were 3.9 and 1.1 percentage points higher than the growth rate of the province's industrial added value above designated size. The relevant person in charge of the Henan Provincial Bureau of Statistics stated that the changes in the driving force, structure, and quality of economic development are becoming increasingly apparent, which is the confidence and confidence in the sustained, stable, and positive development of the economy. In the western region, Inner Mongolia's new energy installed capacity has surpassed 100 million, surpassing the installed capacity of thermal power plants; The energy consumption per unit of GDP has decreased by 3%, achieving the control target of the 14th Five Year Plan one year ahead of schedule. Xue Jian, Director of the Supervision and Evaluation Department of Chongqing Municipal Bureau of Statistics, stated that two major driving forces have played a crucial leading role in driving production development. One is that new energy vehicles lead industrial development. The automotive industry is leading the industrial development with a leading position, driving the growth of large-scale industries by 4.9 percentage points. In 2024, the output of new energy vehicles will be 953200, an increase of 90.5% compared to 2023. Second, the Internet industry leads the development of the service industry. In Northeast China, with the weakening support of industries such as automobiles, chemicals, and steel, Liaoning's electrical machinery and equipment manufacturing industry, specialized equipment manufacturing industry, computer, communication, and other electronic equipment manufacturing industry have all seen higher growth rates in added value than the national average, and the intensity of research and development funding has reached a new high in the past decade. The development of the digital economy in Heilongjiang has achieved landmark results, with the completion and operation of the largest domestically produced single cluster large computing power project in the country. Harbin Aviation Cluster and Suiha Daqi Biological Manufacturing Cluster have been promoted to national advanced manufacturing clusters. At the end and beginning of the year, various provinces held intensive economic work conferences, New Year's Day meetings, and provincial-level two sessions to plan and deploy the "construction drawings" for high-quality development in 2025. Liu Xiangdong, Deputy Director of the Macro Economic Research Department of the China Center for International Economic Exchange, stated that various regions actively implement the spirit of the Central Economic Work Conference, aim to complete the goals and tasks of the 14th Five Year Plan with high quality, set economic growth targets based on their own actual conditions, and put forward corresponding key tasks. They pay more attention to benefiting people's livelihoods, promoting consumption, and increasing momentum, give prominent importance to expanding domestic demand, and cultivate and develop new quality productive forces according to local conditions. 'Dual' and 'Two New' are key levers. For example, Shaanxi proposed to seize the "dual" and "two new" policy opportunities, focus on the investment direction of national ultra long term special treasury bond funds, and do a solid job in project planning, docking and promotion. Hubei proposed to seize and make good use of macro policies such as "dual" and "two new", find the right entry point and focus, do solid and detailed preliminary work, and strive for more major projects and policy dividends to be implemented in Hubei. Various regions will combine promoting consumption with benefiting people's livelihoods, and highlight local characteristics more prominently. Zhejiang proposes to promote the increase of income and reduce the burden on low - and middle-income groups, and improve the mechanism for normal wage growth for workers. Shanghai has proposed to vigorously develop the first-time economy, silver economy, nighttime economy, and live streaming economy, promote new consumption, automobile consumption, and green consumption, and accelerate the creation of consumer independent brands led by domestic trendy brands. Hainan proposes to create a "cool island" business card and make tourism hot and prosperous during the off-season. Stable investment focuses on optimizing structure, increasing momentum, and improving efficiency. Shanxi proposes to coordinate "hard investment" and "soft construction", implement a number of "dual" projects and high-quality transformation projects. Shandong proposed to plan and reserve high-quality projects around major strategies, "top ten" industries, infrastructure and other fields, strive to be more included in the central budget investment, ultra long term special treasury bond and other support areas, do a good job in the "self review and spontaneous" pilot of local government special bond projects, and promote a number of large projects that stimulate market investment vitality. Efforts will be made in various regions to promote the upgrading of traditional industries, the growth of emerging industries, and the cultivation of future industries, and to develop new quality productive forces according to local conditions. Guangdong has proposed to vigorously develop emerging industries such as integrated circuits, new energy vehicles, artificial intelligence, low altitude economy, new displays, new energy storage, new materials, and biomedicine, and cultivate future industries such as biomanufacturing, quantum technology, embodied intelligence, and 6G. Beijing proposes to establish an investment growth mechanism, focusing on cultivating 20 future industries including humanoid robots, commercial aerospace, biomanufacturing, new materials, and future energy. Hebei proposes to target high-end, intelligent, and green industries, support equipment updates and process upgrades in traditional advantageous industries, enhance the level of modern steel, green chemical industries, and cultivate more hidden champions and individual champions. The adverse effects brought about by the current external environmental changes have deepened, and China's economic operation still faces many difficulties and challenges. The Central Economic Work Conference requires that we adhere to the principle of putting our work first, enhance confidence, face difficulties with determination, and work hard to ensure that all decisions and deployments of the Party Central Committee are implemented. Liu Xiangdong stated that comprehensive measures taken by various regions, with a focus on implementation, will promote sustained economic recovery and lay a solid foundation for achieving a good start to the 15th Five Year Plan. (New Society)