# fiscal transfers

Guangdong Hits RMB14.58tn — China’s Economic Engine Consolidates Lead and Eyes California

Guangdong posted RMB14.58 trillion in GDP for 2025, holding the title of China’s largest provincial economy for the 37th year. The province couples deep manufacturing capacity with leading-edge innovation, aims to double its economy by 2035, and plays an outsized role in national fiscal transfers and global trade.