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Guangdong's GDP hits 2 trillion yuan

By Liang Qiwen (China Daily)
Updated: 2007-10-27 11:44

The gross domestic product (GDP) of Guangdong Province exceeded 2 trillion yuan in the first three quarters, its statistics bureau said.

Guangdong's GDP from January to September was 2.15 trillion yuan, up by 14.7 percent from the same period last year.

The figure is almost equal to the full-year GDP of 2.17 trillion yuan in 2005.

In the first nine months, the provincial government enacted a series of policies to adjust Guangdong's investment structure, promote consumption and reduce the trade surplus.

"The figures prove the policies are working," said Bu Xinmin, director of the provincial statistics bureau.

Investment in fixed assets saw a moderate rise and the consumer market was brisk, he said.

Guangdong's foreign trade has slowed since a new export tax rebate was introduced.

From July to September, export growth in the province was 26 percent, 18.9 percent and 16.9 percent.

Earnings in the petroleum and power industries rose sharply in the period.