On October 24, the Guangdong Provincial Bureau of Statistics released data on the economy for the first three quarters. The figures show that Guangdong achieved a regional GDP of 10,517.698 billion yuan, representing a year-on-year growth of 4.1% at constant prices. This includes a value-added of 383.85 billion yuan in the primary industry, up 4.5%; 3,927.075 billion yuan in the secondary industry, an increase of 2.7%; and 6,206.773 billion yuan in the tertiary industry, rising by 4.9%.

The Bureau noted that the overall economic operation in Guangdong remained stable during the first three quarters. With an eye on the annual target, Guangdong will focus on implementing various tasks meticulously, actively responding to external instability and uncertainty, further boosting development momentum, energizing the market, expanding effective demand, and restoring confidence, thus consolidating and promoting the positive trend of economic recovery.

Agricultural production supplies are adequate. In the first three quarters, the total output value of the agriculture, forestry, animal husbandry, and fishery sectors in the province increased by 4.9% year-on-year, with growth accelerating by 0.2 percentage points compared to the first half of the year.

Industrial production growth has rebounded. The industrial value-added above a designated size grew by 3.5% year-on-year in the first three quarters, an increase of 1.3 percentage points compared to January-August.

The service sector continues to accelerate its development. In the first three quarters, the value-added of the service sector increased by 4.9% year-on-year, speeding up by 0.3 percentage points compared to the first half of the year. The transport market showed stable growth, with total freight volume and cargo turnover growing by 0.7% and 7.4%, respectively.

Investment indicators reveal that fixed asset investment in the province fell by 14.1% year-on-year in the first three quarters. Supported by policies for large-scale equipment upgrades, investment in the purchase of machinery and tools increased by 1.7%, accelerating by 0.2 percentage points compared to the first half of the year.

Notably, with Guangdong entering the "National Games period," sports investment grew by 20.2%, while investments in electricity and thermal production and supply jumped by 11.1%.

This year, the "two new" policies have been rapidly expanded, activating consumption in Guangdong through supply and demand. The total retail sales of consumer goods in the province increased by 2.8% year-on-year in the first three quarters. Urban retail sales grew by 3.0%, while rural retail sales increased by 0.9%.

Regarding prices, during the first three quarters, the consumer price index (CPI) for residents in the province fell by 0.3% year-on-year, narrowing the decline by 0.1 percentage points compared to the first half of the year; the producer price index (PPI) decreased by 1.5% year-on-year.