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China News

Guangzhou economy rewarms in July

Source:       Updated:August 16 22:08

BEIJING, Aug. 17 -- Following the major economic indicators held steady in the second quarter of this year, the economic growth in Guangzhou, capital of south China's Guangdong Province registered an unceased rewarming in July.

Statistics released by Guangzhou statistic bureau show, in July, the city's industrial output has been forging ahead at full gallop. The gross industrial output reached 114 bln yuan (one U.S. dollar equals 6.8 yuan), up 14.3 pct over the same period of last year, at a pace of 2.9 pct faster than that of last month.  

Of those, auto industry was of 21 bln yuan, a rise of 29.7 pct over last year, while electronic industry totaled 12.6 bln yuan, up 28 pct over last month. Pulled by the Asian Games' fallout, the city's fixed asset kept leading the economic sprint. From January to July, Guangzhou invested a total of 108.5 bln yuan on fixed asset, up 20.7 pct from last year.

As one of the city's three main forces, the consumer market performed strongly in July. Retail sales totaled nearly 31 billion yuan, jumping 17 pct over last year.  

By the end of July, the total volume in social retail goods had reached 200.029 billion yuan, a rise of 20.7 pct over the same period of last year. Xinhua News Agency correspondents reporting from Guangzhou. (XHTV)

Editor: Wang Guanqun