Financial news

Guangdong growth remains strong amid pressures

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Via China Daily

Dongguan in Guangdong province is a busy port on the Pearl River. [Photo provided to chinadaily.com.cn]

The economy of Guangdong province, an economic powerhouse in South China, is predicted to grow about 6.3 percent year-on-year and reach more than 10.5 trillion yuan ($4.03 trillion) in 2019, according to a government work report.

“Guangdong’s economy remained stable amid rising pressure from trade friction between China and the United States,” Guangdong Governor Ma Xingrui said.

According to the report delivered by Ma during the annual provincial legislative session,

Guangdong’s foreign trade was down 0.3 percent year-on-year to 7.14 trillion yuan in 2019.

The third session of the 13th Guangdong Provincial People’s Congress opened on Tuesday in Guangzhou, capital of Guangdong province.

Last year, Foshan became the third city in Guangdong to reach over 1 trillion yuan in GDP, following Shenzhen and Guangzhou.


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