China News Service, January 6 (Reporter Li Jinlei) China has 24 trillion GDP cities. How will the economic development of these trillion cities be in 2022?

What is the economic growth target for 2023?

　　In recent days, Wuhan, Jinan, Qingdao, Changsha, Hefei, Zhengzhou, Fuzhou and other trillion-dollar cities have released the "transcript" of economic development in 2022, as well as the "plan" for economic development in 2023.

　　Zhongxin Finance has noticed that the expected GDP growth targets set by these trillion cities in 2023 are generally higher than the actual GDP growth rate in 2022.

Data map: A "super moon" slowly rises from the Yellow Crane Tower.

Image source: Visual China

How will trillion cities perform in 2022?

　　The 24 trillion cities are Shanghai, Beijing, Shenzhen, Guangzhou, Chongqing, Tianjin, Suzhou, Wuhan, Chengdu, Hangzhou, Nanjing, Qingdao, Wuxi, Changsha, Ningbo, Zhengzhou, Foshan, Fuzhou, Quanzhou, Nantong, Hefei, Xi'an, Jinan, Dongguan.

　　As of January 5, Wuhan, Jinan, Qingdao, Changsha, Hefei, Zhengzhou, Fuzhou, Dongguan and other trillion-dollar cities have disclosed GDP growth data (estimated value) for 2022.

　　Wuhan pointed out in the 2023 government work report that the GDP of Wuhan is expected to increase by about 4.5% in 2022, reaching a total of about 1.9 trillion yuan.

　　Hefei pointed out in the 2023 government work report that the GDP of the region is expected to grow by about 3.6%, and the total economic output will cross the 100 billion level and break through 1.2 trillion.

　　According to the local 2023 government work report, according to preliminary estimates, Zhengzhou's GDP will increase by about 2% in 2022.

Fuzhou's GDP is expected to grow by more than 5.2% in 2022.

Changsha's GDP is expected to grow by 4.8% in 2022.

Jinan's GDP is expected to exceed 1.2 trillion yuan.

　　In 2021, Dongguan, which has successfully achieved "a GDP of over one trillion and a population of over ten million", recently disclosed data showing that the annual GDP in 2022 is expected to exceed 1.1 trillion yuan.

This year's GDP target is generally higher than last year's growth rate

　　Wuhan, Jinan, Qingdao, Changsha, Hefei, Zhengzhou, Fuzhou, etc. put forward their expected growth targets for 2023 in their government work reports, which are generally higher than the actual GDP growth rate for 2022.

　　Among them, Zhengzhou's main expected goal in 2023 is to increase its GDP by 7%.

The main expected goal of Changsha in 2023 is to increase the GDP of the region by about 7%.

　　The main expected goal of Wuhan in 2023 is to increase the GDP of the region by more than 6.5%.

The main goal of Hefei's economic and social development in 2023 is proposed to increase the GDP by more than 6.5%.

The main expected goal of Fuzhou is to increase the regional GDP by about 6.5%.

　　The main expected goal of Jinan is to increase the GDP of the region by more than 5.5%.

The main expected goal of Qingdao is to increase the city's GDP by about 5.5%.

　　The 2023 GDP growth target of the above trillion cities is not lower than 5.5%, concentrated in the range of 5.5%-7%.

　　The GDP growth target in 2023 is generally higher than the actual growth rate in 2022, behind which is the expectation that China's economic operation is expected to recover in general in 2023.

　　At present, the market generally expects that China's economic growth rate will be higher than 5% in 2023.

Recently, Morgan Stanley predicted that the Chinese economy will grow by 5.4% in 2023.

Goldman Sachs raised its forecast for China's economic growth in 2023 from 4.5% to 5.2%, and believes that the consumer sector is expected to become a bright spot in China's economic growth in 2023.

Street data map of Changsha.

Photo by Chinanews.com reporter Li Jinlei

Promoting the expansion of consumption recovery has become an important task

　　The Central Economic Work Conference emphasized that the recovery and expansion of consumption should be given priority.

　　Zhengzhou set the growth target of total retail sales of consumer goods in 2023 at 12%, Fuzhou at 10%, Hefei at about 9%, Changsha at 7%, Jinan at about 5.5%, and Qingdao at more than 5%.

　　Zhengzhou requires to speed up the release of consumption potential, moderately adjust the purchase restriction areas, support group purchases of commercial housing on sale, ensure the same treatment for residents in the new urban metropolitan area, promote both rent and purchase, reduce the burden of credit for house purchases, and implement measures such as recognizing houses but not loans. Activities such as 20% discount for housing purchases for talents and housing purchases for new citizens will solve the housing problems of groups such as young talents and new citizens, and promote housing consumption in a stable manner.

　　Hefei proposed to promote the recovery of consumption.

Prioritize the recovery and expansion of consumption, comprehensively improve the level of consumption, and strive to become an international consumption center city.

　　Qingdao lists the expansion of domestic demand as the top priority in 2023, and requires the introduction of policies and measures to boost contact consumption, promote the accelerated recovery of cultural tourism, accommodation and catering, wholesale and retail industries, and focus on promoting consumption of new energy vehicles and smart home appliances.

　　"With the continuous optimization of epidemic prevention and control measures, consumption will usher in a strong restorative growth, and the fundamental role of consumption in stabilizing growth will be further strengthened." Wen Bin, chief economist of China Minsheng Bank, told Zhongxin Finance, Looking forward to 2023, China's economy will show a steady recovery trend, and the growth momentum will be more balanced. It is expected that the annual growth rate will reach about 5.5%, returning to the potential growth level.

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