The aim of this south China city is to have a GDP of more than 1
trillion yuan ($128.21 billion) by 2011, Guangzhou Mayor Zhang
Guangning has said.
In his annual work report to the ongoing municipal people's
congress, the mayor said Guangzhou's economic development had been
very bullish and its per capita GDP was expected to top $13,000 by
2011, much more than the benchmark $10,000 for a developed economy,
if only its registered permanent residents were taken into
account.
The capital of Guangdong Province is expected to optimize the
economic structure in the next few years by expediting the
development of high-tech industries, such as software and
bio-medicines, and consolidating the development of the automobile
and petrochemical industries.
The city's objective is to realize an annual software industrial
output of 110 billion yuan ($14.1 billion) by 2010, and
bio-medicine output of 100 billion yuan ($12.82 billion).
"High-tech industries should be developed so that they can be a
key driver of the economy The city's aim is to become a
technological innovation and software and bio-medicine center in
South China and even in the entire country."
The city will expedite the development of its
manufacturing-orientated service industry, too, he said. The
advantages its airport, harbors and cyberport enjoy can be
maximized for a faster development of the tertiary sector, directed
primarily toward the manufacturing industry.
Guangzhou will do more to support private enterprises to help
them grow and account for at least one-third of its output.
The GDP target set for this year is 12 percent growth over the
600 billion yuan ($76.92 billion) for last year.
Investment in fixed assets this year is expected to grow 8
percent over 2006; consumer retail and exports volume are expected
to grow by 12 percent each; and foreign capital inputs are expected
to grow by 8 percent.
The Director of the Regional Economy Research Institute under
the Guangzhou Academy of Social Sciences, Yang Zaigao, is
optimistic about the city's blueprint for development.
"Guangzhou's per capita GDP was 69,000 yuan ($8,846) in 2006 if
only its registered permanent residents were counted, and the
average annual income of the people was over 30,000 yuan
($3,946),"Yang said. "So Guangzhou residents will be able to have
an average annual income of about $5,000 in 2011.
"One out of every five families will own a car and the per
capita living space would reach 20 square meters," he said.
(China Daily January 24, 2007)