China GDP Change (2004-2023)

China's economy has experienced significant growth over the past 20 years. Taking Guangdong Province as an example, its GDP increased from 1,865.83 billion yuan in 2004 to 13,567.32 billion yuan in 2023, growing approximately 6.3 times. By comparing growth rates across different regions and periods, we can observe an overall trend of slowing economic growth. For instance, Guangdong Province's average annual growth rate was about 14.4% during 2004-2013, while it decreased to about 8.0% during 2014-2023. This indicates that China's economy is transitioning from a high-speed growth phase to a high-quality development phase. Beijing and Shanghai, as municipalities directly under the central government, have relatively high total GDP, which may reflect their status as centers for finance, technology, and service industries. Even in the face of global economic challenges (such as in 2020), most regions maintained positive growth, demonstrating the resilience of China's economy.