Guangdong's 2020 GDP exceeds $1.7 trillion, challenges lie ahead
CGTN |
Updated: 2021-02-07 13:54
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Tourists pose for photos amid cosmos flowers at Haizhu Wetland Park in Guangzhou, capital of South China's Guangdong province, on Nov 3, 2020. [Photo/Xinhua]
The GDP of South China's Guangdong province surpassed 11 trillion yuan ($1.7 trillion) last year, the highest in the country. But despite the economic growth, an expert says challenges lie ahead.
For the first time, the province's GDP exceeded that of South Korea. It had already overtaken Spain, Australia and Mexico.
Foreign trade played a major role in driving Guangdong's growth in 2020. It exported trillions of yuan of medical supplies, traditional garments and home appliances.