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Guangzhou's GDP rose 8.3% in H1

Jul. 25, 2012 (China Knowledge) - Guangzhou, the provincial capital of South China's Guangdong Province, reported an 8.3% growth in gross domestic product in the first half of 2012, which stood at RMB 621.38 billion, according to the latest statistics released by the Guangzhou Statistics Bureau.

RMB 9.47 billion of the GDP was generated by the primary sector, 2.6% more than in the first half of 2011. RMB 228.88 billion and RMB 383.02 billion were generated in the secondary sector and the tertiary sector, 7.4% and 9% more than in the corresponding period of 2011, respectively.

From January to June 2012, gross industrial output from enterprises with designated size or above of the city rose 7% YoY to RMB 700.47 billion. Guangzhou's three pillar industries comprising auto industry, electronic products manufacturing industry and petroleum chemical industry realized RMB 352.72 billion in gross industrial output value, accounted for 50.35% of the city's total.

In the first half of this year, the city's fixed-asset investment increased 5.8% YoY to RMB 131.09 billion, including RMB 52 billion investments in real estate development, 16.1% more than in the same period of 2011.

Guangzhou's retail sales swelled 14.9% YoY to RMB 280.34 billion in the six-month period, and its foreign trade grew 3.1% from a year earlier to US$56.81 billion, including US$27.97 billion from exports, up 3.8% YoY. Meanwhile, the city saw its utilized FDI increased 8% to US$2.56 billion in the period.

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