GBA’s GDP totals RMB13t in 2022

The gross domestic product (GDP)  in the Greater Bay Area (GBA) exceeded RMB13 trillion last year.

The data from the Bureau of Statistics of Guangdong Province shows that the 2022 GDP in the nine mainland cities of the GBA amounted to RMB10 trillion. According to the Census and Statistics Department in the Hong Kong SAR, the GDP in Hong Kong was HKD2.8 trillion in 2022. The figure for Macau was around MOP177 billion. Collectively, these metrics add up to a GDP of over RMB13 trillion in the GBA.

At the end of 2022, the governments of Guangdong, Hong Kong, and Macau jointly held the Global Investment Promotion Conference. 853 cooperation projects were signed on the spot, with a total investment of RMB2.5 trillion.

The Guangdong government mentioned in its government work report at the beginning of this year that its socio-economic development goal in 2023 is to achieve more than 5% of economic growth.

The targets set are mostly higher than this figure for the nine mainland cities in the GBA. The 2023 economic growth in Hong Kong is projected to increase 3.5% to 5.5%, while some institutions suggest that Macau’s economy will also rebound this year. Staff reporter