According to statistics of economists, the Asian Games will increase the GDP of Guangzhou by hundreds of billions. The economy of Guangzhou has experienced yearly improvement in size and quality since 2006 when the preparations for the 2010 Asian Games were accelerated. Statistics show that between 2006 and 2009, Guangzhou's GDP successively passed the marks of 600 billion Yuan, 700 billion Yuan, 800 billion Yuan and 900 billion Yuan. It is expected that the GDP of this year is bound to exceed one trillion Yuan, thus scaling a new height.
"What a spectacular city!" This is a compliment frequently heard from tourists who visit the Guangzhou Tower and cruise on the Pearl River. Behind the enchanting landscape is Guangzhou's transformative economic progress propelled by the 16th Asian Games. Originally, Guangzhou was an economy focused on light industry, processing and services. Now it is undergoing a transition into an international city with a balance between heavy and light industries, a vibrant services sector and constantly increasing core competiveness.
As statistics from Guangzhou Financial Bureau indicate, a total of 122.6 billion Yuan was invested in the 16th Asian Games, 49 times larger than that of the 1990 Beijing Asian Games. Yin Tao is director of the Institute of Economics and Business Management of Guangzhou Academy of Social Sciences. Director Yin said that according to statistics from the institute, such investment, though large, had boosted Guangzhou's GDP by 60 billion Yuan over the past five years.
Infrastructure development that accompanied the Games has increased the GDP by 103.24 billion Yuan. Moreover, Asian-Games-related investment has brought to Guangzhou an increase of 712 billion Yuan in GDP. Boosted by the Games, social consumption volume has risen by 1.9 billion Yuan, resulting in an increase of 4.
503 billion Yuan in GDP.
Source: english.gz.gov.cn
