Last year, Guangzhou's GDP surmounted RMB 700 billion, reaching RMB 705.078 billion, increasing 14.5% over that of the year before, ranking No. 3 of the major cities in China. The value added of the primary industry was RMB 16.109 billion, increasing by 5.0%; the value added from the secondary industry was RMB 281.689 billion, increasing by 15.6%; and the value added by the tertiary industry was RMB 407.28 billion, increasing by 14.1%. Guangzhou's synthetic economic strength has stepped up a new level.

The Statistic Bureau of Guangzhou Municipality released the 2007 Economic Operating Situation of Guangzhou on January 28th, 2008, which showed that Guangzhou's GDP per capita amounted to USD 9,302, increasing by 11.3%, calculated in terms of the average of the resident population. The per capita disposable income of urban residents reached RMB 22,469.22, increasing by 13.2%, while the per capita consumption expenditure hit RMB 18,951.32, increasing by 16.6%. The per capita net income of rural households was 8,612.84, increasing by 10.6%. As of the end of 2007, on average, 100 urban residential households in Guangzhou had owned 13 motor vehicles, increasing by 30% compared with the year before.

At the same time of the income increase, the consumption prices were also on the rise. The overall urban resident's consumption level in Guangzhou for 2007 has increased by 3.4%, up 1.1% in terms of increase range over the year before.

(Translated by Guangzhou Association of Foreign Affairs Translators)

Source : english.gz.gov.cn