Guangdong Revitalizes its Economy after SARS

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Last updated at: (Beijing Time) Saturday, June 14, 2003

Guangdong Revitalizes its Economy after SARS

Guangdong Province in south China, the first Chinese region afflicted by SARS, has outlined a series of business activities to offset the negative influence of the disease on its economic growth.

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Guangdong Province in south China, the first Chinese region afflicted by SARS, has outlined a series of business activities to offset the negative influence of the disease on its economic growth.

Zhong Jianhui, deputy head of the Guangdong Provincial Department of Foreign Trade and Economic Cooperation, said a seminar on economic and trade cooperation between Hong Kong and Guangzhou would be held at the end of this month, and trade fairs would be held in Japan and the Republic of Korea in September.

Meanwhile, Guangdong would organize small and medium-sized enterprises and non-governmental firms to attend international exhibitions, with focus placed on markets in the Middle East, Africa and Russia.

Since Guangdong was removed from the World Health Organization's list of SARS-affected areas on May 23, business activities has been returning to normal, according to Zhong.

Construction of foreign-funded projects has restarted. Officialstatistics show 64 more foreign-funded enterprises were created inGuangzhou, capital of Guangzhou, in May, an increase of 166 percent on a year-on-year basis. Foreign investment into Guangzhoulast month went up to 166 million US dollars, a rise of 52 percent.

The number of contracts signed between Guangdong and other countries dropped by 4.5 percent in April during the height of theSARS outbreak. However, 1.9 billion US dollars worth of contracts were signed in May, up 3 percent.

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