Guangzhou's annual GDP is targeted at 11 percent growth in the 12th Five-year Plan (2011-2015), three percent higher than the provincial target, according to the draft of the 12th Five-year plan discussed at the Municipal People's Congress.
Over the past 30 years, Guangzhou has achieved annual GDP growth of over 13 percent and the annual growth is expected to surpass 13 percent in the 11th Five-year plan. Guangzhou Mayor Wan Qingliang said the 12th Five-year Plan's aim is set to meet the requirements of accelerating economic transformation and strengthening Guangzhou's development, Wan said.
Although Guangzhou's GDP surpassed one trillion RMB in the 11th Five-year Plan, Wan suggested Guangzhou should not be too optimistic. During the following Five- year Plan, both Beijing and Shanghai have set economic targets of about eight percent while Tianjin and Suzhou set about 12 percent. Guangzhou needs to lay a solid economic foundation and to keep the lead, he added.
Additional goals of the next Five-year Plan include enhancing economic development and efficiency, strengthening self -innovation ability, improving environmental friendly urban and suburban projects; improving the living standard of urban and rural residents an deepening social reform, city officials said.
