Guangzhou, China, 29 Dec – The southern Chinese province of Guangdong is expected to increase its gross domestic product by 12. 4 percent in 2005 in an annual comparison, officials have announced.

Xinhua news agency reported that Guangdong’s GDP this year will total US$ 267 billion. Fixed-asset investment in the province will total US$ 86.6 billion this year, up 16.5 percent from 2004, and retail sales will hit US$ 91.2 billion, a rise of 15 percent.

Direct foreign investment into Guangdong in 2005 reached US$ 11.35 billion and the value of overseas trade from the province is set to reach US$ 420 billion this year. (macauhub)