A view of Baiyun district. [Photo/WeChat account: gz_baiyunfabu]

Baiyun district's GDP reached nearly 280 billion yuan ($38.9 billion), marking annualized growth of 8.1 percent and ranking among the top three districts in Guangzhou.

The total fixed asset investment increased by 27.2 percent, while retail sales of consumer goods rose by 8.8 percent, and 75,000 new market entities were registered, contributing to Guangzhou's total of 560,000 market entities.

Having been recognized as the Leading Chinese Smart City & District for four consecutive years, Baiyun district invested 128.4 billion yuan, experiencing growth rates of 47.3 percent in industrial investment, 74.7 percent in manufacturing, and 134.2 percent in technological reform.

Implementing 22 measures to boost private economy development, Baiyun reduced taxes and fees for enterprises by 3.3 billion yuan. The foreign trade volume reached 60.19 billion yuan, marking a 12.7 percent increase. Research and development investment rose by 23.2 percent, and the district led in trademark applications and registration in Guangzhou in 2023.

The main expected goal of economic and social development in the district is to achieve a 2.3 percent growth in the gross regional product, reaching 300 billion yuan in 2024.