Guangzhou Leads Beijing, Shanghai with 12.1% Economic Growth

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Last updated at: (Beijing Time) Saturday, July 20, 2002

Guangzhou Leads Beijing, Shanghai with 12.1% Economic Growth

Guangzhou City, one of the major gateways to the outside world in south China, reaped 132.78 billion yuan (16 billion US dollars) in gross domestic product from January to June.

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Guangzhou City, one of the major gateways to the outside world in south China, reaped 132.78 billion yuan (16 billion US dollars) in gross domestic product from January to June.

Sources from the local statistical bureau said the volume was 12.1 percent more than that of the same period last year.

Guangzhou, capital of Guangdong Province, is ahead of Beijing and Shanghai in terms of economic growth. In the first six months,Beijing reported an economic growth rate of 9.1 percent and Shanghai 10 percent.

According to Ma Yusheng, head of Guangzhou City Statistics Bureau, Guangzhou recorded 12.19 billion US dollars worth of imports and exports in the first half of the year.

Imports made up 6.03 billion US dollars, a rise of 10.8 percent,while exports were 6.16 billion US dollars, up 12.7 percent.

From January to June, the city also invested 28.83 billion yuan(3.47 billion dollars) in fixed assets, up one percent from the same period last year.

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