GDP to top 2 trillion yuan this year in S. China province

The economically developed Guangdong Province in south China is expected to realize 2,163 billion yuan (267 billion U.S. dollars) in gross domestic product, or GDP, for the whole of this year, a year-on-year growth of 12.4 percent.

According to a provincial economic work conference held recently in the provincial capital Guangzhou, Guangdong's fixed-asset investment will amount to an estimated total of 702 billion yuan (86.6 billion U.S. dollars) this year, up 16.5 percent over the year-earlier level; and the retail sales will reach 740 billion yuan (91.2 billion U.S.dollars), up 15 percent.

Sources at the conference said that Guangdong's GDP stood at 1,797 billion yuan (221.6 billion U.S. dollars)in the first 11 months of this year, up 12.4 percent year-on-year.

Guangdong actually absorbed 11.35 billion U.S. dollars in foreign direct investment (FDI), and chalked up 381.8 billion U.S. dollars in imports and exports in the January-November period, up 19.8 percent and 19.7 percent respectively.

Source: Xinhua