Double-Digit Economic Growth In Southern China

　　The city of Guangzhou in Guangdong Province registered a GDP of 141 billion yuan in the first nine months, a 12.7 percent increase on a yearly basis.

　　The city's industrial output was nearly 200 billion yuan, up 14 percent.

　　The economic growth was partly brought about by increased spending on key construction projects and urban facilities. Total spending on fixed assets reached 37 billion yuan in the first three quarters, up 24 percent.

　　The amount of foreign funds coming to Guangzhou was down in the first quarter, but there was a turn for the better in April after the city government adopted measures to improve the investment environment and increase the number of areas open to foreign investors. As a result, Guangzhou used 2.4 billion US dollars worth of foreign funds in the first nine months, up 2.4 percent.

　　In addition, the city's revenues were up 40 percent and yuan deposits in its financial institutions grew 8.4 percent in the nine-month period.