At a press conference on Oct 25, Guangzhou reported that the city's GDP increased 9.9 percent in the first three quarters of this year. 

Guangzhou's GDP has hit 2 trillion yuan ($314 billion) so far this year, and its average growth has reached 5.3 percent over the past two years. Both increases remain above the national average.

In particular, the primary sector contributed to an increase of 18.86 billion yuan with a year-on-year increase of 6.2 percent and a two-year average of 5.2 percent. The secondary sector reached a total of 519.5 billion yuan, which is a 10.3 percent year-on-year increase and a 5.4 percent two-year average, and the tertiary sector increased 1.47 trillion yuan with a 9.8 percent year-on-year growth and a 5.3 percent two-year average.    

In the first three quarters, the added value of industries above designated size in Guangzhou has grown 10.3 percent year on year with a two-year average of 4.6 percent. Among them, high-tech manufacturing has seen a blistering 28.1 percent growth in added value with a 16.7 percent two-year average.

On top of that, Guangzhou's total retail sales of consumer goods amounted to 750 billion yuan, a 12.8 percent increase compared with that in 2020. Particularly, wholesale and retail trade in the accommodation and catering industries have increased 11.6 percent and 29.7 percent, respectively, year on year.

Total imports and exports in Guangzhou reached 816.01 billion yuan with a 16.3 percent year-on-year growth, and a 7.1 percent two-year average. Imports grew 10.7 percent to 333.64 billion yuan, and exports jumped 20.5 percent to 482.3 billion yuan, and the foreign direct investment totaled 40.58 billion yuan, which increased 12.9 percent year on year.

Overall, Guangzhou's economic recovery has not slackened its pace, and has meanwhile demonstrated great resilience and potential. According to the Guangzhou statistics bureau, Guangzhou will press on with its efforts in COVID-19 pandemic prevention and promote high-quality economic development.