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China's Greater Bay Area posts nearly US$ 2 trln in economic output in 2023

BY :Xinhua

UPDATED :2024-04-08

An aerial drone photo taken on March 20, 2024 shows the construction site of a 31-kilometer-long cross-sea link connecting Jiangmen city and Zhuhai city, South China's Guangdong province. The cross-sea link, part of the cross-sea and cross-river transportation project for the Guangdong-Hong Kong-Macao Greater Bay Area, has successfully completed the closure of a major bridge. (Xinhua/Liu Dawei)

The total economic output of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) exceeded 14 trillion yuan (about US$ 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 total economic output of the GBA was 10.8 trillion yuan in 2018, and the past five years witnessed an increase of 3.2 trillion yuan.

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

Editor: Pauline