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Economy Surges Ahead in Guangxi
South China's Guangxi Zhuang Autonomous Region reported an economic growth of 8.2 percent in the first six months of the year.
According to local sources, the region brought in 86.827 billion yuan in gross domestic product (GDP) from January to June.
Service trade has been developing fast since the beginning of the year and has become a prime force in propelling Guangxi's regional economic growth. The service industry created 36.52 billion yuan in added value in the first six months of the year, up 13.1 percent.
Industrial performance has been improving. During January-June period, the industrial sector completed 31.35 billion yuan in added value, up 7.4 percent form the same period last year.
Reform in state-owned enterprises has started to bear encouraging results and has become a major factor in propelling local industrial growth. In the first six months of the year, state-owned enterprises in the region created 1.297 billion yuan in profits and contributed 42.2 percent to the region's industrial growth.
Structural adjustments in agriculture also started to pay off. The agriculture industry accomplished 15.37 billion yuan in added value from January to June, up 2.7 percent. Summer grain output is expected to keep last year's level, while production in animal husbandry, forestry, fishery and vegetables increased steadily.
Market has picked up momentum, with consumption in towns and cities growing faster than the countryside, said local sources.
The region did 900 million U.S. dollars in import and exports from January to June, up 14.3 percent, while overseas investment in the region has stopped declining, with 384 million U.S. dollars of overseas capital being placed into the region in the first six months of the year, up about 2 percent.
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