South China's Guangdong Province, a pioneering province in the country' reform and opening- up drive, generated 158.3 billion yuan (about US$ 19 billion) in gross domestic product (GDP) in the first 10 months this year, up 12.9 percent on a year-on-year basis.

Statistics indicate that the province's industrial sector performed well during the January-October period, with industrial added value increasing 13 percent to reach 60.9 billion yuan ($7.3 billion), and industrial production value growing 13.7 percent to top more than 220 billion yuan ($26.5 billion).

With a healthy economic climate, enterprises in the province realized nearly 4 billion yuan in profits during the January- September period, according to official statistics.

Local analysts attribute this strong economic growth to Guangdong's increased fixed-assets investment, which stood at 43.6 billion yuan ($5.2 billion) for the first ten months, up 35 percent.

The government's spending stimulus policy and the province's economic restructuring also contributed to growth, analysts say.