Zhang Guangning, Mayor of Guangzhou said at the Municipal Government Standing Board Meeting that Guangzhou's GDP for the first half year increased more than 14%, the best for the same period in recent years for several economic indicators.

Mr. Zhang also made a summary of Guangzhou's economic situation for the first half year of 2006, and arranged the economic work for the latter half year.

According to the economic indicators, there was a sound economic development trend for the first half year. Industry maintained a driving growth tendency, investment demand was further increased, the construction of key projects was sped up, the foreign trade framework was constantly optimized with greater speed in attracting foreign capital and the experimental construction unit of the new socialist countryside was fully rolled out.

Mr. Zhang pointed out that the sound economic situation in the first half year created favorable conditions for economic development in the latter half year to fulfill the 2006 work. However, we need to keep sober-minded and pay much attention to the new complexions and new problems occurring in the economic development of our society, especially the price hike of some raw materials, crude oil and processed oil and the impact of the power supply gap to economic development, and take pressing and effective measures.

For the latter half year, Mr. Zhang called for the enhancement of economic control, maintaining the favorable economic development tendency, ensuring the successful completion of key projects, solving the three dimensional rural issues satisfactorily, strengthening city administration, spurring the construction of new cities, speeding up every request and building a harmonious socialist society.

Mr. Zhang also noted that to solve the housing problems of penury groups and middle and low-income groups, Guangzhou Government will take many measures, including increasing the market supply of land, activating the construction of affordable housing projects, speeding up the renovation of risky and shabby houses in old urban areas, building up new communities of cheap rental apartments and aiming at solving the housing problems for destitute households by the end of 2007.

Editor: Yan