{"id":29048,"date":"2025-07-22T16:17:07","date_gmt":"2025-07-22T16:17:07","guid":{"rendered":"https:\/\/www.newsbeep.com\/us\/29048\/"},"modified":"2025-07-22T16:17:07","modified_gmt":"2025-07-22T16:17:07","slug":"chinas-jiangsu-province-narrows-gdp-gap-with-guangdong-as-tech-sectors-fuel-growth","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us\/29048\/","title":{"rendered":"China\u2019s Jiangsu province narrows GDP gap with Guangdong as tech sectors fuel growth"},"content":{"rendered":"<p>The race for China\u2019s provincial economy crown has turned red hot, with Jiangsu closing the gap with Guangdong through <a target=\"_self\" class=\"e1yy41x40 ef9u0v01 css-1ankfgb ecgc78b0\" href=\"https:\/\/www.scmp.com\/economy\/china-economy\/article\/3315644\/how-chinas-yangtze-river-delta-became-tech-powerhouse?module=inline&amp;pgtype=article\" title=\"\" data-qa=\"BaseLink-renderAnchor-StyledAnchor\" rel=\"nofollow noopener\">tech-driven growth.<\/a><\/p>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">Jiangsu\u2019s gross domestic product (GDP) now stands at 97.44 per cent of Guangdong\u2019s, with the distance between the two provinces narrowing to 175.76 billion yuan (US$24.5 billion) in the first half of 2025 \u2013 compared to 191.62 billion yuan for the same period last year, according to data released by provincial authorities.<\/p>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">That marks the closest margin in years, threatening Guangdong\u2019s decades-long dominance as China\u2019s top provincial economy. The province, which borders Hong Kong, became the country\u2019s first export powerhouse during the reform era.<\/p>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">\u201cJiangsu is more resilient due to its diversified industrial structure among different local cities, lower real estate dependence and smaller reliance on exports,\u201d said Peng Peng, executive chairman of the Guangdong Society of Reform, a local think tank.<\/p>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">\u201cExternal trade pressures also weigh on its [Guangdong\u2019s] economy.\u201d<\/p>\n<p>Despite Guangdong\u2019s GDP reaching over 6.87 trillion yuan in the first half of 2025 \u2013 up 4.2 per cent year-on-year \u2013 growth in the manufacturing hub <a target=\"_self\" class=\"e1yy41x40 ef9u0v01 css-1ankfgb ecgc78b0\" href=\"https:\/\/www.scmp.com\/economy\/china-economy\/article\/3271935\/chinas-guangdong-once-major-economic-driver-lags-national-growth-average?module=inline&amp;pgtype=article\" title=\"\" data-qa=\"BaseLink-renderAnchor-StyledAnchor\" rel=\"nofollow noopener\">lagged the national average<\/a> of 5.3 per cent.<\/p>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">Exports, a traditional pillar of the southern province\u2019s economy, were down from 12.1 per cent growth in the first quarter of 2024 to just 1.1 per cent in the same period this year.<\/p>\n","protected":false},"excerpt":{"rendered":"The race for China\u2019s provincial economy crown has turned red hot, with Jiangsu closing the gap with Guangdong&hellip;\n","protected":false},"author":2,"featured_media":29049,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[36],"tags":[28,144,24629,543,101,5040,544,24630,24627,556,5425,24628,5476,24631,1170,13563,24632],"class_list":["post-29048","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-china","tag-david-wong","tag-dongguan","tag-economy","tag-electric-vehicles","tag-guangdong","tag-guangdong-society-of-reform","tag-guangdong-hong-kong-macau-greater-bay-area","tag-guangzhou","tag-hong-kong","tag-jiangsu","tag-manufacturing","tag-peng-peng","tag-real-estate","tag-shenzhen","tag-tech-driven-growth"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/29048","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=29048"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/29048\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/29049"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=29048"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=29048"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=29048"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}