The economic growth rate of the city averaged 13 percent duringthe first 11 months of 2002, and 2002 GDP is expected to reach 300billion yuan (US$36.27 billion), double the 1996 figure.

The city's per capita GDP was US$4,568 in 2001.

The city development planning committee predicted that Guangzhou's economy will maintain its 12 percent growth rate this year.

In order to provide a sound environment for rapid economic growth, the city will make strong efforts to rectify and standardize the development of education, real estate, medicine, tourism, medical services and other industries, and will also crack down on the production and marketing of fraudulent brands, according to the city development planning committee.

Meanwhile, the city plans to expedite the establishment of a credit rating system as well as other intermediate and financial services.

This year, Guangzhou plans to invest 118 billion yuan (US$14.26 billion) in the construction of a series of infrastructure and environmental protection projects. The building of several major high-tech industries and educational facilities is also foreseen.

(Xinhua News Agency January 9, 2003)