South China province reports 12.8 percent growth
( 2003-10-07 14:32) (Xinhua)
South China's Guangdong province reported steady economic growth in the first
eight months of this year, with total GDP growing at 12.8 percent year-on-year.
During the period, the Gross Domestic Product (GDP) amounted to 805.6 billion
yuan (US$97 billion). The growth rate was the highest in the past eight years,
according to government sources.
The industrial added value rose by 20.5 percent to reach 339 billion yuan
(US$40.8 billion). Meanwhile, there were also significant increases in exports
and imports, which reported 91.66 US. dollars and 81.18 US. dollars
respectively.
Contracted foreign investment was 15.7 billion US dollars, up 30.1 percent
from last year.
Analysts said the statistics prove that the outbreak of the severe acute
respiratory syndrome (SARS) had not had much impact on local economic
development.
From January to August, investment in fixed assets rose to 260 billion yuan
(US$31 billion), up 29.4 percent from last year.
Millions of dollars were put into the iron and steel industry, refineries and
automobile manufacturing, due to strong consumer demand.
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