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Guangdong Sets Export Growth Target
Guangdong Province, China's forerunner of the reform and open-up drive, has set its export growth rate goal at nine percent for this year.
Liang Weifa, director of the provincial foreign trade and economic cooperation bureau, told Xinhua in an interview that with the pre-set export growth rate, the province will be able to export more than US$100 billion worth of commodities this year.
As the country's leading exporter, Guangdong exported US$91.92 billion worth of commodities last year, up 18.3 percent from 1999. The total trade volume stood at US$170.1 billion.
According to Liang, the province has also set a 12-percent growth goal in foreign trade for this year, with the volume amounting to US$190 billion, and expects to score an average growth rate 8.5 percent in foreign trade in the next five years.
Overseas investment in Guangdong will hit US$60 billion in the next five years, said Liang.
Despite the Asian financial crisis, Guangdong saw an average growth rate of 10.3 percent in foreign trade during the past five years, and witnessed an averaged growth rate of 10.2 percent in exports.
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