Page 112 - 2025 Special Report

Fig 1 Snapshot of key economic indicators in 2023 by province and region

Guangdong Fujian Guangxi Hainan Hong Kong Macau National

Land area (‘000 km ) 179.6 124.1 238.6 35.4 1.1 0.03 9,600.0
2
Population (m) 127.1 41.8 50.3 10.4 7.5 0.7 1,409.7

GDP (RMB b) 13,567.3 5,435.5 2,720.2 755.1 2,692.2 333.4 126,058.2

GDP growth rate% 4.8 4.5 4.1 9.2 3.2 80.5 5.2

GDP per capita 10.7 13.0 5.4 7.3 35.9 47.1 8.9
(RMB ’0000)

Source: National Bureau of Statistics, The State Council of PRC, government sites of provinces and regions, EY analysis

Fig 2 The economy in South China showed steady recovery and high-quality development

Source: Wind, The State Council of the PRC, EY analysis

with smooth circulation and win-win cooperation, and economic growth, particularly in technology
the Action Plan requires the implementation of and innovation, finance, shipping and trade,
high-level investment liberalization and facilitation advanced manufacturing and hospitality. The
policies and the establishment and improvement Third Plenum Session stressed that the GBA will
of foreign investment facilitation mechanisms to be the central to high-quality development and
attract investment in advanced manufacturing, opening up in the next five years. High-tech and
modern service industries and strategic emerging advanced manufacturing sectors will be the main
industries from developed countries and attracting drivers to develop new quality productive forces
multinational companies and international and more financial resources will be channeled
organizations to establish their headquarters in into technology and innovative segments.
the GBA. Rising outbound investments and supply chain
diversification will remain a key trend for
manufacturers in the Pearl River Delta (PRD).
Outlook of South China Leveraging competitive advantages, Hong Kong
and Macau will play a greater role in regional
The region is set to become a major integration and enable cross-border businesses
powerhouse that leverages each city’s strengths revolving around trade, investments and financial
in a synergistic manner to drive China’s trade services in GBA.

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