South China’s Guangdong Province, one of the country’s economic powerhouses, saw stronger new economies in 2019, according to the province’s statistics bureau Sunday.
New industries characterized by cutting-edge technology in Guangdong realized an 8-percent growth over the previous year, accounting for 25.3 percent of the province’s total GDP.
Guangdong’s GDP exceeded 1 trillion yuan (157.5 billion U.S. dollars) in 2019, up 6.2 percent over the previous year in comparable prices, said the bureau.
Guandong is now home to over 50,000 national-level high-tech companies, and it saw major growth in terms of new industrial products such as bullet trains, 3D printing, urban railway system and new energy vehicles.
Private companies in Guangdong also realized significant growth last year, among which high-end manufacturing industries stood up. Meanwhile, the tertiary industry accounted for 55.5 percent of the total GDP volume.