Cantonese's Average Dispensable Income Increases by 12.7% in 2008

Source: Lifeofguangzhou.com

The annual dispensable income of urban residents in Guangzhou averaged more than 40,000 Yuan (5,870 USD) in 2008, up by 12.7% year-on-year from 2007, according to a 'Report 2008' released by the Municipal Bureau of Statistics on Monday.

The regional gross product recorded an increase of 12.3% from 2007 to 821.6 billion Yuan (120.5 USD). The increase fell short of the pace of Foshan, a neighboring city that may potentially integrate with Guangzhou for packaged development. Guangzhou's GDP doubled Foshan's last year.

Guangzhou's total import/export volume reached 81.952 billion USD, up by 11.5%, with the increase slowing by 2.9 percentage points. Imports amounted to 38.988 billion USD while exports totaled 42.964 billion USD.

The gross export value of the provincial capital was surpassed by Shenzhen (179.744 billion USD) and Dongguan (60.973 billion USD). However, Guangzhou's export-increase rate (13.4%) was much better than Shenzhen's (6.6%) and the province average (9.4%).

(By Ronald Li)

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Editor: Jessie Hwang