Construction workers are busy at the Shuangyumen Bridge at Ningbo Zhoushan Port in East China's Zhejiang Province on April 16, 2024. After completion, the bridge will claim the title of the world's longest single-span steel box girder suspension bridge and the longest sea-crossing bridge in China. Photo: cnsphoto

Chinese localities have defined their local economic growth targets for 2025 and outlined key tasks to bolster their economies, as multiple cities hold local people's congresses while releasing local government work reports.

The city of Ningbo in East China's Zhejiang Province has set a target for GDP growth of more than 5.5 percent for 2025, according to a summary of its government work report released on the city's government website on Thursday. 

Changsha in Central China's Hunan Province and Dalian in Northeast China's Liaoning Province have set their GDP growth targets for 2025 at more than 5.5 percent. 

Sanya in South China's Hainan Province has projected a GDP growth rate of around 6.5 percent for 2025, while Deyang in Southwest China's Sichuan Province has forecast a GDP growth rate of over 6.5 percent. Wuhan in Central China's Hubei Province anticipated a GDP growth rate of around 6 percent. 

The GDP growth targets set by localities reflect relatively optimistic sentiment, showcasing positive signals with improved expectations, said Li Changan, a professor at the Academy of China Open Economy Studies at the University of International Business and Economics.

Li told the Global Times on Thursday that the collective economic confidence of Chinese localities will help drive up the overall economy. 

Wang Peng, an associate research fellow at the Beijing Academy of Social Sciences, said that the targets reflected the confidence of Chinese localities in developing their economies while reflecting their differences in economic foundations and growth potential. 

Wang added that their goals are reasonable and challenging yet achievable, which can stimulate the enthusiasm and creativity of local governments and enterprises, promoting the sustained and healthy development of local economies.

When it comes to propelling economic development this year, Chinese localities have mapped out major tasks aligning with local strengths, while focusing on boosting opening-up and developing new quality productive forces based on local conditions.  

Sanya will focus on promoting high-quality opening-up while prioritizing preparations for independent customs operation, according to its government work, local news portal hinews.cn reported. 

For instance, the city will improve customs clearance efficiency, enhance the level of facilitation of cross-border trade, and strengthen the comprehensive service and support capabilities of ports. It will also actively encourage foreign investment inflows into fields including high-end consumption, financial services, and healthcare and wellness, while attracting multi-national firms to establish functional institutions such as regional headquarters, settlement centers and research and development centers in the city. 

Ningbo vowed to construct a world-class leading strategic hub port by implementing plans for local ports such as the Ningbo Zhoushan Port. It also proposed to construct a high-level international hub for cross-border e-commerce, while accelerating the development of trade in services and the digital and green fields.  

The city will meanwhile focus on promoting the development of emerging industries from new-energy vehicles (NEVs) and humanoid robots to the low-altitude economy, while it aims to achieve a growth rate of more than 40 percent in NEV production. 

The government work report mentioned efforts to promote the development of national-level advanced manufacturing clusters such as green petrochemicals and magnetic materials toward world-class status, while strengthening the cultivation of iconic industrial chains. 

Meanwhile, cities including Ningbo, Dalian and Wuhan placed a focus on further bolstering consumption and spurring domestic demand. Wuhan, for example, vowed to launch more than 2,000 promotion events, cultivate 100 smart shops, restaurants and shopping districts, and introduce more than 300 stores as first of a kind. 

The region-specific development measures will not only help the economies achieve high-quality development, but also provide strong support for the country's overall economic development in 2025, Wang said. 

By formulating differentiated strategies based on their own advantages and characteristics, Chinese localities can create regional economic development patterns that complement each other's strengths, promoting a more balanced, coordinated and sustainable development of economy, Wang said. 

The tone-setting Central Economic Work Conference held in December 2024 said that efforts should be made to strengthen the implementation of regional strategies and boost regional development vitality, while urging enhancing the innovation capabilities and leading role of areas with economic development advantages, supporting major economically developed provinces to play major roles, and encouraging other regions to leverage their local conditions and advantages.