Guangdong Slows GDP Growth to Build a Happy Life

Guangdong province has lowered its expectation of annual GDP growth rate to 8 percent, according to its new Five-Year Plan.

The temporary slowdown is aimed at better and faster growth in the future, and the province will come back as the nation’s top GDP performer as long as it change its growth model, said Guangdong Party Secretary Wang Yang who believes that economic development is just a step towards the final goal of making people happier.      [Full Story]

[Domestic Demand]
[Foreign Trade]
[Industry Structure Transform]
Guangdong is aiming at a domestic demand driven economy, which requires the province to channel its residents to a new spending concept. It is estimated that commodity sales will exceed 3.5 trillion RMB by 2015. During the next five years, Guangdong plans to inject 1.52 trillion RMB into infrastructure, 536 billion RMB on modern industry, 124 billion RMB on urban and rural residential communities, and 123 billion RMB on greenery projects. Guangdong will adjust its foreign trade structure to increase international competitiveness and increase its international market share. The province will do business with the world’s leading companies, support the industry cluster, and relocate the foreign trade business. In the next five years, the Industrial comprehensive quality and competitiveness will be greatly improved . The proportion of tertiary industries will be raised to 48 percent in the provincial economy and the main structure of modern industry system will be completed.
  •  Marching towards a domestic demand driven economy
  •  Guangdong accelerates modern industry construction
  •  Key projects push forward GD’s development
  •  GD targets advanced manufacturing and modern industries
  •  Private-owned enterprises embrace local economy
  •  Guangdong’s single industry towns
  •  Guangdong upgrades foreign trade
  •  Leading SOEs spur GD's industrial upgrade
  • [Culture & Education]
    [Green Guangdong]
    Overall development in education, culture, sanitation and sports will help build a more secure province-wide social security system and complete the public culture service system. Senior middle school education enrollment rates will reach 90 percent, nine-year free compulsory education rates will increase to 93 percent and the average life expectancy will reach 76.5 years. Guangdong’s residential income will keep pace with the development of GDP and payment will keep pace with the productivity of labor. Per capita disposable income of urban residents and rural residents will increase 8.0 percent annually. Energy consumption of per unit of GDP and CO2 emissions per unit of GDP will be reduced by 16 percent and 17 percent respectively. The release of major pollutants should be reduced by 8 percent to 10 percent; cultivated land stock will be 2.91 million hectares; and forest coverage will increase to 58 percent.
  •  Guangdong emphasis on gross domestic happiness
  •  100 Guangdong migrants start free study at Peking University
  •  824,000 rural residents covered by endowment insurance
  •  Guangdong’s green lanes project
  •  Guangdong strengthens water conservation efforts
  • [Innovation Capacity]
    [Innovation Driven]
    To 2015, the development of science and technology will contribute more to economic growth. Guangdong will lead the country in innovation capacity and carve out a new development mode driven by innovation. Expenditures on research and development will take up 2.3 percent of GDP.
  •  Government, Chinese academy of sciences lead hi-tech innovation
  •  Labs cradle Guangdong's innovation
  •  Guangdong to take lead in China's processing trade innovation
  •  [Rising Industrirs]
  •  10 billion RMB to fund rising industries
  •  Guangdong builds world-class electric auto base
  •  Guangdong LED industry set for bigger boost
  •  [R&D]
  •  Two Nobel Prize winners join Guangdong R&D pool
  •  Encouraging foreign companies to set up R&D institutions in Guangzhou
  •  Sun Yat-sen University involved in R&D of instruments onboard U.S. space shuttle
  • Guangdong will coordinate regional development with areas in the east, west and north, achieve Pearl River Delta region integration and strengthen cooperation with Hong Kong and Macao  [Balanced Development]
  •  East PRD: still pioneer in economic development
  •  West PRD: Not to copy East PRD’s growth path
  •  Pearl River Delta reform and development outline
  •  [PRD Integration]
  •  Key projects lead integration in Pearl River Delta
  •  PRD’s five integrations
  •  Shenzhen-Dongguan-Huizhou to develop border area
  •  [Regional Cooperation]
  •  Guangdong and Hong Kong arrange major work in 2011
  •  Guangdong, Macao ink cooperation framework agreement
  •  [Key Projects]
  •  Qianhai, Hengqin, Nansha to lead Guangdong’s regional cooperation
  •  Hengqin Island sparks Zhuhai's new development
  •  Tax preferences for Qianhai firms
  •  Development of Nansha aimed at creating a new Guangzhou
  •  Hong Kong-Zhuhai-Macao bridge
  • Statistics: GD's Performance in the 11th Five-year Plan & Targets in the 12th Five-year Plan
    Guangdong’s Performance in the Past Five Years
    Guangdong maintained steady and rapid economic development and fulfilled the major objectives and tasks of the Eleventh Five-Year Plan and major breakthroughs were attained in scientific development.
    [Full Story]
  •  Comprehensive Economic Strength
  •  Economy Growth Mode Switch
  •  Regional Development
  •  Reform and Opening-up
  •  People’s Livelihood
  • Info for Non-Residents