Currently, 31 provinces (autonomous regions, municipalities directly under the central government) in China have released their "economic performance report" for the first quarter of 2025. In terms of total GDP, Guangdong and Jiangsu have entered the "3 trillion club"; In terms of growth, 19 provinces outperformed the "national line" of 5.4%, with Xizang leading the way with 7.9%. The chief economist of CITIC Securities, Mingming, told reporters that the national GDP growth rate in the first quarter exceeded market expectations, and the economy achieved a "good start". The growth rate of 19 provinces exceeded the "national line", indicating that most regions are in a stable growth channel, with economically major provinces performing outstandingly. Behind the data, coordinated development of regional economy, accelerated formation of new quality productivity, and intensified policies to boost domestic demand have become key highlights. Guangdong Province ranks first in total GDP, and the central and western provinces are experiencing "acceleration". In terms of GDP total, in the first quarter of 2025, the economically prosperous provinces of Guangdong, Jiangsu, and Shandong will rank among the top three, delivering "performance reports" of 3352.551 billion yuan, 3308.86 billion yuan, and 2346.6 billion yuan, respectively; Zhejiang, Sichuan, Henan, Hubei, Fujian, Shanghai, and Hunan closely follow, ranking fourth to tenth in the country, with a total production value exceeding 100 million yuan. The total GDP of Guangdong, Jiangsu, and Shandong provinces accounts for nearly 30% of the country's total, and their huge economic volume plays a key role in stabilizing employment and growth nationwide. ”Mingming's analysis suggests that major economic provinces play an important role in the national industrial and supply chains. On the one hand, these provinces actively invest in technological research and development, promoting innovation leadership and industrial upgrading; On the other hand, major economic provinces drive the development of other regions through cooperation, achieving cross regional linkage. For example, Guangdong and Guangxi jointly build industrial cooperation parks, and Jiangsu counterpart supports Xizang's industrial projects to achieve resource complementarity. From the perspective of GDP growth, 19 provinces including Xizang, Hubei, Gansu, Anhui, Ningxia, Zhejiang, Shandong, Henan, Jiangsu, Tianjin, Guangxi, Jiangxi, Hebei, Fujian, Shaanxi, Beijing, Sichuan, Jilin and Xinjiang had higher GDP growth in the first quarter than the "national line", while Hunan and Inner Mongolia had the same growth rate as the whole country. In a clear view, Xizang, Hubei, Gansu, Anhui, Ningxia and other places are growing fast, because emerging industries form an important support for the economic growth of some provinces, such as the rapid development of Anhui's new energy automobile industry; Develop energy projects such as infrastructure and photovoltaic power stations in Gansu, Xizang and other places; Hubei and other regions are developing industries such as semiconductors and batteries. Chen Li, Chief Economist and Director of the Research Institute of Chuancai Securities, stated in an interview with reporters that from the perspective of regional economic development characteristics, the eastern region has become a pioneer in industrial upgrading due to its favorable geographical location, economic foundation, and industrial supporting facilities. Its main features include industrial structure optimization, innovation driven development, and advantages in an outward oriented economy; The central region has achieved significant results in the coordinated development of industry and agriculture, promoting stable regional economic growth through the development of agricultural product processing industry, implementing the strategy of "industry supporting agriculture", and strengthening regional coordinated development; With abundant natural resources and policy support, the western region promotes the integration and development of resources and emerging industries, transforming resource advantages into economic advantages, effectively driving the development of emerging industries, and becoming a new engine of economic growth. Overall, in the first quarter, industries such as high-tech, digital economy, and green economy in various provinces achieved rapid growth, and new quality productivity has become a key driving force for economic development in many regions. Taking a major economic province as an example, in the first quarter, the added value of advanced manufacturing and high-tech manufacturing in Guangdong increased by 5.9% and 5.3% respectively. The production of high-tech products has grown rapidly, with the production of new energy vehicles, lithium-ion batteries for energy storage, industrial robots, and service robots increasing by 29.9%, 83.5%, 31.3%, and 10.8% respectively. In the first quarter, the added value of high-tech manufacturing above designated size in Sichuan increased by 14.5% year-on-year. At the same time, the policy of "exchanging old for new" combined with the Spring Festival holiday has promoted the sustained growth of consumer markets in various regions, effectively driving steady economic growth. Jiangsu stated that the policy of promoting consumption continues to be effective. The policy of "exchanging old for new" has been strengthened and expanded, and the "Su Xin Consumption" series of activities have been carried out continuously. In the first quarter, the retail sales of restricted household appliances, cultural office supplies, and communication equipment in the province increased by 25%, 51.4%, and 20.2% respectively, with growth rates significantly accelerating compared to the whole year last year. Shandong stated that in the first quarter, the total retail sales of consumer goods in the province increased by 5.6%, which is 1 percentage point higher than the national average. Shandong seizes the opportunity of the policy of exchanging old for new consumer goods, and has issued six provincial-level implementation plans and detailed rules. In the first quarter, the exchange of old for new has driven consumption by over 31 billion yuan. In addition, various regions are also making every effort to stabilize the fundamentals of foreign trade. For example, in the first quarter, the import and export of foreign trade in Gansu Province continued to improve, with a year-on-year increase of 49.4% in total import and export value. The export of "new three types" of electric vehicles, photovoltaic products, and lithium batteries increased by 13.6 times; Shandong, on the other hand, has implemented multi-dimensional and precise policies of "expanding markets, increasing momentum, and strengthening guarantees". In the first quarter, the province's foreign trade imports and exports reached 820.34 billion yuan, a year-on-year increase of 5.9%, which is 4.6 percentage points higher than the national average and the highest level in the same period in history. Liu Xiangdong, Chief Analyst of Dongyuan Investment, told reporters that from the economic data of various regions in the first quarter, the highlights of local economic growth are mainly reflected in three aspects: strong industrial new momentum and accelerated formation of new quality productivity; The trend of consumption upgrading is obvious, and the policy of "exchanging old for new" has achieved significant results; The optimization of foreign trade structure and the development of emerging markets have shown results. Actively laying out plans to boost domestic demand in the second quarter has become a key focus. Recently, many regions have actively deployed key tasks for the second quarter, clarifying that they will further boost domestic demand through the implementation of special action plans to boost consumption and accelerating the landing of major industrial projects. For example, the 23rd meeting of the Finance and Economics Committee of the Jiangxi Provincial Party Committee held on April 18th proposed to firmly expand domestic demand in all aspects, seize the golden period of construction, deeply implement the "Ten Million, Ten Thousand" project, accelerate the construction of major projects, make greater efforts and more precise efforts to promote the "trade in old for new" of consumer goods, create new consumption scenarios, new business models, continue to promote cultural and tourism consumption, inbound consumption, and cultivate and strengthen the incremental market of domestic demand. The executive meeting of the Shanghai Municipal Government held on April 21st clarified the targeted implementation of the special action to boost consumption, the implementation of the "two new" policies, the expansion of service consumption and exhibition consumption, the promotion of inbound tourism consumption development, and the creation of more consumption scenes that integrate culture, commerce, and sports. On April 23rd, the Information Office of Shandong Provincial Government held a series of press conferences on the economic theme of "Talking about Shandong's Development". Zhang Qingwei, Deputy Director of the Provincial Department of Commerce, introduced that it will continue to promote the expansion and quality of consumption in the province from five aspects: promoting the implementation of consumption policies, expanding service consumption, accelerating the high-quality development of e-commerce, promoting the upgrading of urban and rural consumption, and holding a series of promotional activities. In Chen Li's view, from the perspective of the key directions of sustained policy efforts in various regions, policies are further tilted towards promoting consumption and advancing the transformation and upgrading of traditional industries, unleashing consumption potential, promoting consumer market prosperity, and laying a solid foundation for the next step of high-quality economic development. Liu Xiangdong stated that in 2025, policies in various regions will focus on infrastructure and industrial investment, consumption upgrading, and other areas to strengthen economic growth momentum. While promoting consumption upgrading through "trade in" and the issuance of consumer vouchers, many regions are adjusting their export commodity structure, optimizing cross-border e-commerce support policies, and promoting coordinated growth of domestic and foreign demand. (New Society)