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Guangdong Outlines Economic Development Blueprint
Guangdong Province, an economic powerhouse in south China, is expecting a 9-percent economic growth rate for this year, according to Governor Lu Ruihua.
While informing local lawmakers attending the fourth session of the ninth provincial People's Congress of the province's economic projections for the year 2001, Lu also vowed to have an 8-percent increase in fixed assets investment, a-12 percent rise in retail sales and a 9-percent growth in exports.
He told the lawmakers Monday that priority of this year's economic development will be given to industrial restructuring. In development agriculture, emphasis will be placed on increasing farmers' incomes, raising the quality of agricultural products and improving the efficiency of the rural economy.
To foster a number of advantageous industries and commodities based on high technology, the province will rev up the development of high-tech industries and pillar industries, and accelerate the transformation of traditional industries with high and new technologies, as well as other advanced and practical techniques, said Lu.
The province will also encourage investment, especially in infrastructure, and spur consumer demand, while continuing to increase exports of locally produced commodities and support strong businesses to engage in processing trade and resources development in developing countries.
Lu added that the province will also continue to further carry out reforms to streamline state-owned enterprises and investing and fund-raising systems, among others.
Guangdong, the country's forerunner of the reform and open-up drive, scored a gross domestic product of 950.6 billion yuan (US$114.5 billion) and an export volume of US$91.92 billion in 2000.
In the past year, per capita disposable income for urban residents in the province was 9,761 yuan (about US$1,176),and per capita net income of farmers was 3,654 yuan (about US$440).
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