Guangdong forecasts 8.5% growth
14-02-2009
The Guangdong government predicts the province's economic growth will slow to 8.5 percent this year. That's down from last year's 10.1 percent, and lower than the nine percent growth target set out in the country's five-year plan. Speaking at the opening of Guangdong's Provincial People's Congress, Governor Huang Huahua said the lower growth target would still be difficult to achieve because of the global economic slowdown. Factory production in the province has been hit by slumping overseas demand for goods. Mr Huang said he hoped to stabilise production output and maintain the unemployment rate at four percent this year. He said the government would boost domestic consumption to support the economy, and allocate 2.2 billion yuan to help small and medium sized companies. Mr Huang also said the province would speed up the construction of the Hong Kong-Zhuhai-Macau Bridge, and reinforce co-operation in the financial services sector with the two special administrative regions.
