12 trillion GDP cities have shown their growth targets this year, and expanding consumption is given priority


With the holding of the local two sessions in succession, 12 of the 24 cities with a trillion GDP (gross regional product) in the country have set their GDP growth targets in 2023, including Guangzhou, Suzhou, Ningbo, Jinan, Qingdao, Zhengzhou, Changsha, Hefei, Wuhan, Fuzhou, Quanzhou and Nantong. Their growth targets are generally bright. Except Suzhou, which is set at 5%, other cities are between 5.5% and 7%. The target growth rate will be higher than the actual growth rate in 2022. As the growth pole of China's regional economy, according to the statistics released in 2021, the total GDP of these cities accounts for about 40% of the country's total GDP. The performance of cities with trillion GDP in 2023 will largely affect the growth of China's economy. In fact, the economic growth targets released by these cities are indeed similar to the predictions of various institutions and scholars on China's economic growth in 2023. The economic blue book released by the Chinese Academy of Social Sciences predicts that China's economy will grow by about 5.1% in 2023. Yao Yang, president of the National Development Research Institute of Peking University, pointed out that 5% is the "bottom line" of GDP growth in 2023. Liu Yuanchun, president of Shanghai University of Finance and Economics, told China News Weekly that 2023 will be the year of economic recovery reversal, but the three carriages of investment, consumption and export still face certain uncertainties. Among the 12 cities mentioned above, Zhengzhou and Changsha have the highest economic growth target in 2023, with a target of 7%. In addition, Hefei and Wuhan, both central cities, also set a GDP growth target of more than 6.5%. Zhang Keyun, a professor at the Institute of Regional and Urban Economics of the School of Economics of Renmin University of China, told China Newsweek that the core cities in the central region are the highlights of China's future growth at a time when cities in the eastern region are temporarily experiencing the "ceiling" of development. "In the past, the coastal areas were at the forefront of opening up to the outside world. However, after the coastal areas were opened to the outside world to a certain extent, they may reach the 'ceiling', and the central region will become the new frontier of China's future opening up, which is a development trend gradually advancing inland." Zhang Keyun said. In addition, the higher growth expectations of central cities are also related to their smaller base. Zhang Keyun pointed out that Zhengzhou and Changsha are both cities with GDP just over trillion, and the base is small. Therefore, although the growth rate is high, the absolute increment is not very large. The same increase may be 3% for Changsha and 1% for Beijing. However, it is undeniable that next, the trillions of GDP cities in Wuhan, Changsha, Zhengzhou, Hefei and other central regions will play a strong leading role. The engine of their development is industry and innovation. Take Changsha as an example, its construction machinery field has international influence, and under the industrial chain effect, Changsha will also drive the development of surrounding cities. Zhang Keyun believes that in order to build a unified national market, the market within the province and even within the region should be unified. Centering on the central city, different regions should divide their work and cooperate with each other, consciously changing the industry from relatively scattered to relatively concentrated, which is the so-called "prosperity for all". Expanding consumption is a priority regardless of

Edit:Hou Wenzhe Responsible editor:WeiZe

Source:China News Weekly

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