Economic Growth - Guangdong's GDP in Q1 increased by 4.1% year-on-year, reaching 33,525.51 billion yuan, with the first, second, and third industries growing by 3.3%, 3.7%, and 4.3% respectively [1] - Although Guangdong's growth rate is lower than the national average of 5.4%, the large economic scale makes a 4.1% growth noteworthy [1] Foreign Trade Performance - Guangdong's foreign trade in Q1 reached 2.14 trillion yuan, a 4.2% increase year-on-year, outperforming the national growth rate of 2.9% [2] - Exports amounted to 1.34 trillion yuan, growing by 1.4%, while imports rose by 9.3% to 798.15 billion yuan [2] - Notably, after a 3.7% decline in January, foreign trade rebounded in February and March, with growth rates of 3.1% and 14% respectively [2] Manufacturing Sector - The industrial added value in Guangdong grew by 3.9% year-on-year, with significant contributions from advanced and high-tech manufacturing sectors, which grew by 5.9% and 5.3% respectively [4] - Key high-tech products such as new energy vehicles and lithium-ion batteries saw production increases of 29.9% and 83.5% respectively [4] - Industrial investment accounted for 38.0% of total investment, with automotive manufacturing investment surging by 41.0% [4] Consumer Market - Retail sales of consumer goods in Guangdong increased by 2.5% year-on-year, with a notable 5.8% growth in March [7] - The "old-for-new" consumption policy has positively impacted retail sales, particularly in categories like home appliances and furniture, which saw growth rates of 29.1% and 42.2% respectively [7] - Online retail sales through public networks grew by 16.3%, with March showing the highest growth rate since 2022 at 31.9% [7] Challenges and Future Outlook - The decline in real estate investment by 15.2% indicates a significant drag on economic growth, while manufacturing is focusing on equipment upgrades [5] - The potential impact of foreign trade products transitioning to domestic sales is seen as a short-term strategy to address export challenges and manage inventory [8]