Guangdong Reports Steady Economic Growth

Guangdong Province in south China registered steady economic growth in the first quarter of this year.

According to the Provincial Bureau of Statistics, total gross domestic product (GDP) hit 193.17 billion yuan (about US$ 23.27 billion) during the period, up 10.2 percent.

In the January-March period, the province recorded a growth rate of 2.6 percent, 11.5 percent and 9.8 percent in agricultural, industrial sectors and service trade, respectively.

In the meantime, consumer prices rose by 1.3 percent from the same period last year, the first rise in nine quarters since the last quarter of 1997 when retail prices started a falling spree.

Bureau Director Pu Xinmin said the steady recovery in Guangdong 's economy has benefited enormously from a range of pro-active fiscal and monetary policies.

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