Guangdong GDP growth nears 15%
21 October 2004
While Beijing tries to keep economic growth below 10%, Guangdong province reported its GDP grew 14.8% in the first nine months of the year, 1.8% higher than the same period in 2003. Officials projected GDP would grow 14.5% on a full-year basis, 0.9% higher than 2003. State media reported that, despite growth, officials kept watch on inflation, with the consumer price index rising only 2.8% in the first eight months of the year, trailing the national CPI rise by 1.2%. A Guangdong Academy of Social Sciences economist said that, given Guangdong's stage of development, overheating would only be an issue when GDP growth exceeded 17-18%.