Economy

31 provinces' economic 'third quarter report' released, with outstanding performance in the Yangtze River Delta region

2025-11-03   

On October 31, the Xizang Autonomous Region released data showing that in the first three quarters of 2025, the region's GDP reached 207.006 billion yuan, a year-on-year increase of 7.1% at constant prices. So far, the economic "third quarter reports" for 31 provinces in 2025 have been released. How was the economic performance of various regions in the first three quarters? What are the new changes in the regional economic pattern? The reporter interviewed several experts in the industry regarding the above-mentioned issues. In the first three quarters, China's GDP was 1.015036 trillion yuan, a year-on-year increase of 5.2% at constant prices. From the perspective of the total economic output of various regions, Guangdong and Jiangsu have exceeded 10 trillion yuan, reaching 1.0517698 trillion yuan and 1.02811 trillion yuan respectively, ranking in the top two, followed closely by Shandong, ranking third. Zhejiang, Sichuan, Henan, Hubei, Fujian, Shanghai, and Hunan ranked fourth to tenth respectively. It is worth mentioning that the top ten provinces in terms of GDP in the first three quarters of this year all had a GDP exceeding 4 trillion yuan. In terms of economic growth, Xizang leads the country at 7.1%, followed by Gansu at 6.1%, ranking second, and Hubei at 6%. The regional economy showed a steady growth trend in total volume in the first three quarters. In terms of total volume, Guangdong and Jiangsu are still the leaders, with significant support from major economic provinces. In terms of growth rate, central and western provinces are actively catching up, actively undertaking the transfer of industries from the east under the strategy of regional coordinated development, and continuously enhancing endogenous power. ”Liu Xiangdong, Deputy Director of the Research and Information Department of the China International Economic Exchange Center, stated in an interview with reporters. Guangdong and Jiangsu continue to lead the country in terms of total economic output, with both provinces' GDP exceeding 10 trillion yuan in the first three quarters, further consolidating their leading position in the 'first camp' of the economy. ”Zhang Yiqun, director and researcher of Jilin Provincial Institute of Fiscal Science, also told reporters that the gradual acceleration of economic growth in central and western provinces has effectively promoted the balanced growth and rational layout of the Chinese economy. At the same time, the reporter noticed that the "third quarter report" of the Yangtze River Delta regional economy showed outstanding performance. In terms of growth rate, the year-on-year GDP growth rates of the three provinces and one city (Jiangsu Province, Zhejiang Province, Anhui Province, and Shanghai City) in the first three quarters reached 5.4%, 5.7%, 5.4%, and 5.5% respectively, all outperforming the national growth rate. From a total perspective, the GDP of the three provinces and one city is about 25.18 trillion yuan, accounting for about 24.81% of the country's total economic output. According to Zhang Yiqun's analysis, the economic performance of the three provinces and one city in the Yangtze River Delta in the first three quarters was impressive, mainly due to the significant role of exports as a driving force; Secondly, economic transformation stimulates growth potential, with high-tech industries such as artificial intelligence, integrated circuits, biopharmaceuticals, electronic communications, and high-end equipment growing rapidly, becoming the driving force for long-term economic growth in the Yangtze River Delta region. The third is that the driving force of consumption remains stable, playing an important role in stabilizing regional and national consumption growth. The data also confirms that in the first three quarters, the output value of Shanghai's three leading industries in manufacturing increased by 8.5% year-on-year, which is 2.8 percentage points higher than the total output value of the city's industrial enterprises above designated size. Among them, the artificial intelligence manufacturing industry grew by 12.8%, the integrated circuit manufacturing industry grew by 11.3%, and the biopharmaceutical manufacturing industry grew by 3.6%. The steady growth of the economy in the three provinces and one city in the Yangtze River Delta is mainly due to strong endogenous driving force support, especially the high-speed growth maintained by high-tech manufacturing, which has become an important engine driving economic growth. ”Liu Xiangdong stated. In the critical stage of the fourth quarter, what other areas can the local government focus on? Liu Xiangdong stated that each province still needs to intensify efforts to boost consumption, accelerate the release of service consumption potential, stimulate new consumption vitality, and smooth the virtuous cycle of employment, income, and consumption. At the same time, we must continue to expand effective investment, boost private investment, and unleash the key role of investment in stabilizing growth and optimizing supply. In addition, it is necessary to actively leverage technological innovation capabilities, lead the cultivation of new quality productivity, and develop and strengthen emerging industries such as artificial intelligence, big data, new energy, biomedicine, and high-end equipment manufacturing, so as to unleash new momentum for vigorous development. Zhang Yiqun analyzed that it is necessary to stabilize the investment and consumption "driving force" and comprehensively stabilize the market's good expectations. At the same time, we must also stabilize the development of entrepreneurship and innovation, continue to steadfastly pursue the path of technological innovation, increase national investment in basic research and development, better utilize preferential policies such as additional deductions and tax reductions, and accelerate the promotion of industrial upgrading and high-quality economic development. (New Society)

Edit:Yao jue Responsible editor:Xie Tunan

Source:Securities Daily

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