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Guangzhou sees GDP growth in first nine months

BY :Xinhua

UPDATED :October 26, 2020

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The gross domestic product (GDP) of Guangzhou, capital of south China's Guangdong Province, reported one percent growth to 1.7 trillion yuan (about 262 billion U.S. dollars) in the first three quarters of 2020, a press release said on Friday.

The GDP of Guangzhou grew by 7.9 percent year on year in the third quarter, up by seven percentage points from the second quarter, showing rapid recovery of the virus-hit economy of the city.

The city reported rapid growth in emerging industries during the period, with the revenue in internet, software, and IT services registering 13.8 percent year-on-year growth and e-commerce seeing double-digit growth of 15.3 percent in imports and exports.

The city's foreign trade, which registered a volume of more than 700 billion yuan, saw a moderate increase during this period. Its export achieved 9.9-percent growth to over 400 billion yuan.

In the first nine months, the city's trade volume with countries along the Belt and Road increased by 15.3 percent. 

Source: xinhuanet.com
Editor: Molly

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