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Guangdong Reports 10.4 Percent Economic Growth
South China's Guangdong Province scored a 10.4 percent growth in gross domestic product (GDP) in 2000.
Information from a provincial financial work conference said that the province clinched 947.7 billion yuan (US$114.1 billion) in GDP last year, and the growth rate is about 1 percent more than that in 1999.
While addressing the conference, Ou Guangyuan, deputy governor of the province, attributed the achievements to the province's greater efforts to expand domestic and overseas markets, to advance economic restructuring, to reinforce the foundation of agriculture, to intensify reform of state-owned enterprises, and to implement pro-active fiscal policies and promote economic growth by spurring investment and consumption.
It is estimated that the province's retail sales of consumer commodities will stand at 409.5 billion yuan (about US$49.34 billion) in 2000, up 12 percent from 1999.
In the meantime, the province also invested 327 billion yuan (about US$39.39 billion) in fixed assets last year, up 8 percent from 1999. The province's exports are expected to reach US$91 billion, up 17.1 percent, while imports are also expected to go up by 22.9 percent.
The province raked in 81.94 billion yuan (about US$9.87 billion) in budget revenue in the first 11 months of 2000, up 19.6 percent from that of 1999.
The province's budget revenue for the whole of 2000 is expected to be 88.88 billion yuan (about US$10.71 billion), up 16 percent from 1999, higher than the GDP growth rate or the growth rate of industrial added value.
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