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Guangdong sees highest growth in 10 years
(Xinhua)
Updated: 2004-12-20 17:00

Guangdong Province, one of China's economic powerhouses, scored a 14.5 percent rise in its gross domestic product (GDP) from January to October, a record high in ten years, the provincial statistics bureau said Monday.

It is expected that the province might notch up more than 1.6 trillion yuan (193 billion US dollars) in GDP this year, fulfilling the target for the 10th five-year plan (2001-2005) one year ahead of schedule.

The growth rate for the whole is predicted at 14.2 percent, the bureau said.

According to information from the bureau, Guangdong accomplished 1.27 trillion yuan (154 billion US dollars) in the first ten months of the year.

Based on the current growth momentum, Guangdong is sure to score 2 trillion yuan (241 billion US dollars) in GDP by late 2006,doubling that for 2000.

Guangdong, which borders Hong Kong and Macao, has been assigned with the task of piloting the country's reform and opening-up drive and has become the biggest beneficiary of the efforts. It has grown into one of the world's major bases of processing trade.

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