East China Province's GDP to Grow by 12 Percent This Year

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Last updated at: (Beijing Time) Wednesday, October 02, 2002

East China Province's GDP to Grow by 12 Percent This Year

East China's Zhejiang province is expecting its gross domestic product (GDP) to grow by 12 percent or even slightly higher this year.

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East China's Zhejiang province is expecting its gross domestic product (GDP) to grow by 12 percent or even slightly higher this year.

Zhejiang has registered a GDP growth rate of 12 percent during the first half-year, an increase of 1.5 percentage points over thesame period in 2001 and an average growth rate for 1999-2000, according to the provincial bureau of statistics.

It was a record high ever after the Asia financial crisis sweptmost of Asia in 1997, said the provincial bureau in a newly released report.

The growth of local economy has picked up after more than two years of slight growth. The vigorous momentum would help promote economic growth in the province, according to the report.

Moreover, the report estimates that local economy in Zhejiang will continue to rise in the third and fourth quarter, and the GDP in the province is hopefully to grow still faster during the remaining months of the year.

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