Guangdong Enters into New Economic CycleEconomists here agree that Guangdong Province, an economic power house in south China has entered into a new economic cycle as its price index has shaken off negative growth in the past two years.The consumer price index went up 1.5 percent in the first nine months of this year from the same period of last year. It has been stabilized in the positive growth zone for nine consecutive months, indicating that the overall price index in Guangdong began to rise following 25 months of negative growth. The change in the price index has already attracted great attention of social sectors. It is normal that the price index of Guangdong rebounds slowly after ending negative growth, economists explained. Now Guangdong's economic development is in the early period of the fourth economic cycle since China launched the reform and opening-up drive in 1979. They predict that Guangdong's economic growth will show the tendency toward inertial rise. |
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