Guangdong – the number 1 province for economic development and a leading industrial province in the Mainland

From 1979 to 2003, the GDP of Guangdong has been increasing at a rate of two digits for the past 24 consecutive years. In 2003, its GDP hit US$ 162.5 billion, accounting for 11.5% of the national total, increased by 13.6%, which was the highest increase rate since 1995. The major indicators of its national economy keep ahead in the country, including total volume of retail sales of consumer goods, industrial added value, personal savings deposits of residents, tax revenue, fiscal revenue, total fixed assets investment and goods handling capacity, etc.

Guangdong has become a leading industrial province of China with its sectors featuring a strong capability in producing, processing and assembly. In 2002, Guangdong ranked first of all the provinces in the Mainland in gross value of industrial output (RMB 1637.9 billion), industrial added value (RMB 431.6 billion), income from products sales (RMB 1624.8 billion), sales profits (RMB 76.9 billion) and profit payment and tax turnover (RMB 138 billion). In 2003, Guangdong achieved an industrial added value of RMB 635.805 billion, an increase of 19.8% over the previous year. Many industrial products of Guangdong play an important role in China – it was the leading producer of home electric appliances, Construction ceramics and computers in China.