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China's 2024 Economic Targets by Province

China's provinces have released their 2024 GDP targets. According to local governments' 2024 work reports delivered to local people's congresses, most provinces aim for more than 5 per cent economic growth in 2024, focusing on boosting consumption.


More than half of China's provincial-level regions anticipate a GDP growth of 5.5 per cent or higher, with targets ranging from 4.5 to 8 per cent. Provinces with larger economies such as Guangdong, Jiangsu, and Zhejiang have set their GDP targets at 5 per cent. Shanghai, which is a financial hub, and Beijing, the capital city, are both expecting a year-on-year GDP growth of 5 per cent.


With reference to the administrative division, Mainland China is divided into six macro-regions with different economic performances.


North China: Beijing (5 per cent), Hebei (5.5 per cent), Inner Mongolia (6 per cent), Shanxi (5 per cent), and Tianjin (4.5 per cent).


North-East China: Heilongjiang (5.5 per cent), Liaoning (5.5 per cent), and Jilin (6 per cent).


North-West China: Gansu (6 per cent), Ningxia (6 per cent), Qinghai (5 per cent), Shaanxi (5.5 per cent), and Xinjiang (6.5 per cent).


Central-South China: Guangdong (5 per cent), Guangxi (5 per cent), Hainan (8 per cent), Henan (5.5 per cent), Hubei (6 per cent), Hunan (6 per cent), and Jiangxi (5 per cent).


South-West China: Chongqing (6 per cent), Guizhou (5.5 per cent), Sichuan (6 per cent), Tibet (8 per cent), and Yunnan (5 per cent).


East China: Anhui (6 per cent), Fujian (5.5 per cent), Jiangsu (5 per cent), Shandong (5 per cent), Shanghai (5 per cent), and Zhejiang (5.5 per cent).


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