Guangzhou's Tianhe district saw a year-on-year increase of 3.7 percent in its GDP in the first quarter of 2024, with the total amount reaching 163.36 billion yuan ($22.64 billion).

The added value of Tianhe's primary industry was 14 million yuan, decreasing by 87.2 percent year-on-year. In comparison, that of its secondary industry was 9.52 billion yuan, up 7.7 percent, and that of its tertiary industry was 153.83 billion yuan, up 3.5 percent.

From January to March, the added value of the district's modern service industry reached 124.61 billion yuan, up by 3.2 percent year-on-year and accounting for 76.3 percent of its GDP.

High-rise buildings tower over the Tianhe district. [Photo/WeChat account: tianhefabu]

Strategic emerging industries such as new-generation information technology enjoyed a 5.7-percent growth in their added value to reach 47.56 billion yuan during the period, which made up for 5.7 percent of the district's GDP.

The district's total export-import volume was 16.7 billion yuan, up by 18.4 percent. The total retail sales of consumer goods reached 56.79 billion yuan, accounting for 19.2 percent of Guangzhou's total.

During the first quarter of this year, Guangzhou saw the registration of 21,900 new companies and 526 new enterprises above the designated size, accounting for 28 percent and 19.2 percent of the total respectively.

The 107 city-level key projects in Tianhe finished investment of 11.24 billion yuan during this period, which is 32.4 percent of the annual target. The district's fixed-asset investment saw an 18.2 percent growth to 12.16 billion yuan.

Seven key projects started construction at the Guangzhou International Financial City, and six were capped. Construction began on two key projects at the Tianhe Smart City and finished on three key ones.