In 2020，with the severe impact of COVID-19 epidemic and the complex domestic and international environment，Guangzhou’s economy recoverd steadily and achieved positive growth. GDP reached 2.50 trillion RMB with an increase of 2.7%. In terms of industry，the recovery of manufacturing industry was faster than that of service industry. In terms of demand，consumer demand recovered steadily，investment played a stronger role in supporting economic growth，and export achieved positive growth. Looking forward to 2021，COVID-19 is still rampant in the world，and the world economic situation is relatively grim. Major economies will still maintain loose monetary and fiscal policies to cope with the COVID-19 crisis. China’s economy has recovered fairly quickly，but the foundation for growth is still not solid. Our macro policies will maintain continuity，stability and sustainability. We will implement a proactive fiscal policy that is more sustainable and improves the quality and efficiency of the economy and a flexible，precise，reasonable and appropriate monetary policy，and continue to strengthen the employment-first policy. The development of the Guangdong-Hong Kong-Macao Greater Bay Area will be promoted further，and the urban renewal and digital economy of Guangzhou will be accelerated. Considering various factors，the research group predicts that the GDP growth rate of Guangzhou will range from 7.6% to 9.3% in 2021，showing a trend of high growth at the beginning and low growth in the end of the year.