Guangdong sets a GDP growth target at 9 percent with the per capita GDP rise by 6 percent in 2010, stressing that the year 2010 will be an important stage for Guangdong to maintain a good momentum in financial crisis recovery.
Huang Huahua, Governor of Guangdong province delivered this work report on the third plenary session of the 11th Guangdong Provincial People's Congress, in which he said the year 2009 Guangdong booked a 9.5 percent growth.
Under the global financial crisis in 2009, the provincial GDP reached 3.9082 trillion RMB with an increase of 9.5 percent year on year. The financial revenue from Guangdong province and the local government's budget totaled 905.2 billion RMB and 364.9 billion RMB respectively, with 6.9 percent and 10.3 percent rises from the previous year.
The upbeat economic data came on the heels of a massive economic stimulus package and huge increases in bank loans aimed at reviving the local economy amid the global financial crisis.
In the year 2010 Guangdong will continuously strive to transform the economic growth mode, quicken the building of modern industry system and highlight self- innovation to maintain a stable and relatively fast economic growth. The stimulation on domestic demands and improvement on people's livelihood will never slack off.
In 2010, The fixed asset investment and the retail sales are expected to go up by 16 percent and 15 percent respectively. Foreign trade is expected to keep a 5 percent growth. The CPI will be controlled to modestly up 3 percent. The urban and rural residents are to have 9 percent and 7 percent income increases respectively.
