Guangdong Province aims for 4.5%-5% growth in 2026

Guangdong Province, China’s economic powerhouse, is targeting 4.5% to 5% GDP growth in 2026, Governor Meng Fanli announced yesterday during the fifth session of the 14th Guangdong Provincial People’s Congress.

Delivering the 2026 Government Work Report at the conference’s opening ceremony, Meng emphasized deepening integration within the Guangdong-Hong Kong-Macao Greater Bay Area (GBA). He highlighted advancing the “Macau + Hengqin” positioning and accelerating the “four new” industries within the Guangdong-Macao In-Depth Cooperation Zone in Hengqin.

As stated by the Governor, Guangdong plans to prioritize science and technology innovation cooperation, actively linking with high-end science and technology resources from Hong Kong and Macau as part of its 15th Five-Year Plan.

In 2026, key infrastructure projects include starting construction on the Guangzhou-Zhuhai (Macau) High-Speed Railway, completing the new Huanggang Port, optimizing Hong Kong-Zhuhai-Macao Bridge management, and boosting airport-port collaboration to build a world-class cluster, according to the report.

The redeveloped Huanggang Port, set to reopen in 2026, introduces a “collaborative inspection and joint clearance” model that reduced passenger clearance times from 30 minutes to about five minutes. This upgrade at the 24-hour Shenzhen-Hong Kong crossing will initially handle 200,000 daily passengers, scaling up to 300,000 as infrastructure expands.

The redesign reduces the port’s footprint from 500,000 to 75,000 square meters, freeing up space for a 1.8 million-square-meter international innovation zone. This zone will host research facilities, labs, and talent housing, boosting high-tech collaboration in the Hetao Shenzhen-Hong Kong Science and Technology Innovation Cooperation Zone, according to prior reports.

Meng also emphasized the “One Point, Two Places” strategy for integrated development and high connectivity across the Guangdong-Hong Kong-Macao Greater Bay Area.

He pledged that Guangdong would serve as the main force and driving engine, deepening cooperation among the three regions to advance Greater Bay Area initiatives and create momentum for high-quality development.

Meng highlighted support for Guangzhou to revitalize its historic core while championing China’s “new four great inventions” – high-speed rail, mobile payments, e-commerce, and bike-sharing. Shenzhen, meanwhile, will advance as a new-era special economic zone and a pioneering demonstration of socialism with Chinese characteristics.

Key cities including Zhuhai, Foshan, Huizhou, Dongguan, Zhongshan, Jiangmen, and Zhaoqing will also receive backing to boost development.

Record transport volumes

In 2025, Guangdong’s transport network handled 180 million airport passengers, 4.59 million tons of air cargo and mail, 100.42 million tons of rail freight, and 440 million rail passenger trips, Meng stated. During the 14th Five-Year Plan, initiatives like cross-border medical device connectivity and wealth management links in the GBA enabled the processing of 198 high-frequency government services across borders.

Completed projects such as the Shenzhen-Zhongshan Bridge, Huangmaohai Channel (connecting Zhuhai and Jiangmen), Guangzhou Baiyun Station, and Qingmao Port supported 8.32 million cross-boundary vehicle trips that year.

The report also highlights repeated traffic highs on the Hong Kong-Zhuhai-Macao Bridge, enabling one-hour connections between its major cities.

Sustained economic momentum

Guangdong has held China’s top GDP ranking for 37 straight years.

In 2025, it drove 24.1% of the nation’s foreign trade growth and saw an 11.3% rise in actual foreign capital use. Last year, the province added 3.2 million new business entities to its total of 20.377 million.

For the 15th Five-Year Plan (2026-2030), Meng set an average annual GDP growth target of around 5%. In 2026, local general public budget revenue aims for about 3% growth, with residents’ income rising in step with the economy.

Meng urged Guangdong to act as the GBA’s “main force,” fostering rule coordination, resource sharing, technological innovation, and infrastructure links. This includes supporting Guangzhou’s urban renewal, Shenzhen’s special economic zone, and platforms like Qianhai, Nansha, and Hetao, while promoting east-west Pearl River integration and drawing peripheral areas such as Shantou and Zhanjiang into the Bay Area orbit.