China's Guangdong Expects 10.5 Percent GDP Growth

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Last updated at: (Beijing Time) Thursday, December 05, 2002

China's Guangdong Expects 10.5 Percent GDP Growth

The gross domestic product (GDP) of southern Guangdong Province for 2002 is expected to grow 10.5 percent year-on-year, according to the forecast of a provincial economic planner early this week.

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The gross domestic product (GDP) of southern Guangdong Province for 2002 is expected to grow 10.5 percent year-on-year, according to the forecast of a provincial economic planner early this week.

Strong growth in exports, economic restructuring and new economic growth areas are combining to drive forward the province's economy, said Huang Weihong, director of the Guangdong Provincial Development Planning Commission.

According to the commission, the province's investment in fixedassets reached 271 billion yuan (about 33 billion US dollars) for the first 10 months of 2002, a rise of 16.8 percent over the same period last year.

The province's exports totaled approximately 96.6 billion US dollars for the period from January to October, up 24.2 percent year-on-year.

Huang said that the growth in exports has exceeded all expectations and has been a great contribution to the economy.

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