(Yicai Global) Jan. 12 -- Guangdong province, the province with the biggest economy in China, will aim to achieve gross domestic product growth of more than 5 percent this year, the province’s governor said at the Provincial People’s Congress today.

Guangdong’s economy is expected to advance around 2 percent last year from 2021 to CNY12.8 trillion (USD1.9 trillion), Wang Weizhong said in a government work report delivered at the congress. The southern province has achieved an average annual growth rate of 5 percent for the past five years.

Fixed asset investment in the province should climb 8 percent in 2023, total retail sales of consumer goods growth should advance by 6 percent, the value of imports and exports should swell by 3 percent, the added value of industrial enterprises above a designated size should increase by over 5.5 percent and inflation should stay at around 3 percent, he said.

Other aims include a 5 percent jump in general public budget revenue, keeping per capital disposable income growth synchronized with economic growth, creating an additional 1.1 million jobs, keeping the urban jobless rate within 5.5. percent and achieving a grain harvest of at least 12.6 million tons, Wang said.

This year, Guangdong will give priority to boosting consumption, including supporting large purchases, such as buying new homes, electric cars and smart home appliances, as well as promoting spending in service sectors such as catering, tourism, care of the elderly and childcare, Wang said.

Guangdong achieved GDP of CNY12.4 trillion (USD1.8 billion) in 2021, making it the first and only province in the country so far to top the CNY12 trillion mark. That year, the province’s GDP accounted for 10.9 percent of China’s total. The province has had the biggest economy in the country for 34 straight years.

Editors: Tang Shihua, Kim Taylor