Guangzhou targets 11 percent annual GDP growth in 12th Five-year plan(59476)

Guangzhou's annual GDP would be aimed at an 11 percent growth in the 12th Five-year plan (2011-2015), 3 percent higher than the provincial target, according to the draft of the 12th Five-year plan discussed at the municipal people s congress.

Guangzhou Party Secretary Zhang Guangning (L) and Guangzhou Mayor Wan Qingliang (R) (Photo: Nanfang Daily)

Why the target is so high? Over the past 30 years, Guangzhou has achieved annual GDP growth over 13 percent and the annual growth is expected to surpass 13 percent in the 11th Five-year plan. Guangzhou Mayor Wan Qingliang explained, the 12th Five-year plan aim is set after full consideration and could be attained. The target is also to meet the requirements of accelerating economic transformation and strengthening central city's function as well as promoting Guangzhou's development, Wan said.

Although Guangzhou's GDP surpassed one trillion RMB in the 11th Plan, Wan suggested Guangzhou should not be too optimistic. During the following Five- year Plan, both Beijing and Shanghai has set economic targets of about 8 percent while Tianjin and Suzhou set about 12 percent. Guangzhou needs to lay solid economic foundation and to keep the lead, he added.

The draft also listed out the following economic aims during the 12th Five-year plan:

Both economic development and efficiency to be enhanced;

Self -innovation ability to be strengthened;

Environmental friendly urban and suburban construction to be progressed;

The living standard of urban and rural residents to be improved;

And the social construction and the opening up and reform to be deepened.