China's Greater Bay Area posts nearly $2t in economic output in 2023

GUANGZHOU -- The total economic output of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) exceeded 14 trillion yuan ($1.97 trillion) in 2023, achieving one ninth of China's total with less than 0.6 percent of the national territorial area, local authorities have revealed.

Zhu Wei, executive deputy director of the GBA office in Guangdong, said the total economic output of the GBA was 10.8 trillion yuan in 2018, and the past five years witnessed an increase of 3.2 trillion yuan.

Meanwhile, the GBA has seen an improved scientific and technological innovation capacity, transportation network, more facilitating platforms and a better business environment, Zhu said.