Guangdong’s GDP expected to increase 14 pct in 2006

9 November 2006

Guangzhou, China, 09 Nov – The Gross Domestic Product (GDP) of China’s Guangdong province this year is expected to grow by 14 percent, daily newspaper Guangzhou Daily reported citing the provincial statistics department.

According to the paper, the figures showed that in the first nine months of the year Guangdong’s GDP rose 14.1 percent year on year, but a fall of 0.3 percentage points against the growth rate of the first half.

Fixed asset investment rose 15.9 percent from January to September, or 1.1 and 4.9 percentage points as compared with the same period of last year and the first six months of this year, respectively.

The paper added that the growth rate of investment in fixed assets was 11.9 percentage points below the national average for the period.

Investment in fixed assets is expected to total 800 billion yuan (US$100 million by the end of the year), or a 15 percent rise and total retail sales are expected to total 900 billion yuan, or a 15.6 percent rise. (macauhub)