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Guangdong's GDP Nation's Top
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Latest data released by the Bureau of Statistics of Guangdong Province revealed that the province's gross domestic product (GDP) for 2005 reached 2.17 trillion yuan (US$264.84 billion), an increase of 12.5 percent from 2004, representing per capita GDP of nearly US$3,000, the nation's highest, according to a China Business News report on Thursday.

In 2005, GDP for the province's primary, secondary and tertiary industries were 137.459 billion yuan (US$17.050 billion), 1074.725 billion yuan (US$133.307 billion) and 957.944 billion yuan (US$118.821 billion) respectively, an increase of 3.2 percent, 15.0 percent and 10.8 percent respectively. These figures exceeded that of Singapore and Hong Kong.

In 1978, the province's economic aggregate accounted for only 5.1 percent of the national average; in 1992, it rose to 9.1 percent, and 10.8 percent in 2000. Last year, it rose to 11.9 percent.

In 2005, the general budget revenue for local finance was 180.601 billion yuan (US$22.401 billion), accounting for 12.1 percent of the national total, the highest in the country.

Per capita GDP now stands at 23,616 yuan (about US$2,882), and is projected to break the US$3,000 mark in 2006.

Per capita annual disposable income for urban residents was 14,769.90 yuan (US$1,832.4), an increase of 51.3 percent from 2000; rural residents' per capital net income was 4,690.50 yuan (US$581.9), representing a 28.3 percent increase. Total savings deposits were 2.027 trillion yuan (US$251.430 billion), 1.34 times the 2000 figure.

In 2005, the electronics, communications, petroleum and chemical industries recorded revenues of 1.707 trillion yuan (US$211.765 billion), accounting for 50.8 percent of the province's GDP with an increase of 5.4 percentage points from 2001; traditional industries as textile, food and building materials developed further with revenues of 513.749 billion yuan (US$63.733 billion).

Total retail sales of consumer goods reached 788.264 billion yuan (US$97.787 billion), an increase of 15 percent. At the end of 2005, every 100 families had 9.7 cars on average, an increase of 47.7 percent; property occupation reached 25.71 square meters per capita, and 18 percent of families owned two or more houses.

Total investment in fixed assets was 695.738 billion yuan (US$86.309 billion), an increase of 16.3 percent, with industrial investment totaling 272.282 billion yuan (US$33.778 billion).

Export values broke the US$230 billion mark, accounting for 31.3 percent of the nation's total. The province has led the nation in this respect for the last 20 years.

Foreign capital utilization reached US$12.677 billion, an increase of 26.6 percent. To date, 176 of the world's top 500 companies have established offices in Guangdong.

( by Zhou Jing, January 28, 2006)

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