Shunde, the district of Foshan city in Pearl River Delta renown for its household electronic appliance industry, targets to achieve an annual GDP of 100 bln yuan in 3 - 5 years.

To reach the 5-year goal, Shunde need to maintain an annual growth of 15%. However, the target means not merely a growth in statistics but a transformation of the district's economic development drive.

To achieve the goal, the government should give more support to the industry while the enterprises should speed up their capital structure readjustment. According to the statistics, the enterprises listed as world's top 500 has launched 13 new projects in Shunde, and till now such projects have added up to 25 in number. A total of 64 private enterprises are merged by foreign investors and became foreign-funded. Shunde has been heading to be an important base of world's manufacturing segment.

Shunde had created an economic miracle in the past 20-odd years, nurturing Midea, Galanz, Kelon and other famous household electronic appliance labels. Midea's sale income hit 30 bln yuan in 2004 and is planned to climb to 68 bln in 2006. The enterprise has a bigger ambition: to become one of the world's top 500 in 5 years!

A GDP of 100 bln yuan will be another miracle for Shunde. By the time, Shunde will witness an overall improvement in economy and people's living standard.

Editor: Olivia

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