Guangdong on track to become world’s 6th largest economy
According to a recent report, the region's GDP will reach 26.2 trillion yuan, or about US$4.14 trillion by 2035
China’s Guangdong province, which borders Hong Kong and Macau, is expected to catch up with France, the U.K. and seven other countries in terms of GDP by 2035, rising to the equivalent of the sixth largest economy in the world, Yicai.com reported.
According to a report released by the Guangdong Academy of Social Science, the region’s GDP will reach 26.2 trillion yuan, or about US$4.14 trillion by 2035, accounting for 12.4% of China‘s total GDP, a rise of 1.7% from 2016.
It means Guangdong will gradually exceed Spain, Australia, South Korea, Russia, Canada, Italy, Brazil, France and the U.K. in GDP.
As well, the province will account for 2.08% of the world‘s total GDP, compared to the 1.57% in 2015.
Also, it is predicted that the per capita GDP of Guangdong will exceed the key mark of 100,000 yuan in 2022. By 2035, that figure is projected to reach 19.9 million yuan.