[Week 10] Guangdong Tops Macro-Economy Ranking
2015-March-12 Source: Newsgd.com
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A blue book of China's provincial competitiveness released by the Chinese Academy of Social Sciences on March 2 ranked Guangdong as the top macro-economy in the country for 2013-2014.

The ranking includes nine crucial indexes including industrial economy, sustainable growth, finance, knowledge economy, environment with GDP, functions of government, GDP as well as planning and coordination.

Although Guangdong's overall competitiveness leads the country, it still lags in agricultural, industrial and enterprise competitiveness, according to the report. The report also says that Guangdong's industrial upgrading has proven difficult.

Chinese Academy of Social Sciences expert Xu Fengxian, said that Guangdong has a high standard service industry and that the province ought to increase its influence in the financial industry and bring effective financial products to other provinces in the southern part of China.

"Guangdong's external economic development is always in a leading position since China's reform and opening up policy," said Xu who added that the province should focus on developing its eastern, western and northern regions.

Guangdong should also develop its foreign trade with Southeast Asian, Pacific and African countries, according to Xu.

According to the blue book report, the pulling rate for economic growth by the third industry was above three percent, indicating that there is plenty of room for improvement for tertiary industries.

Editor: Olivia
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