Guangdong GDP up 18%

Latest data from the provincial government show that Guangdong’s economic recovery continued to set a strong pace the first four months of the year, with GDP rising 18.6% YoY, driven by surging industrial output and foreign trade.

Growth in industry came in at 25.1%, with the construction sector sizzling at 29.5%, while total foreign trade was up 30.3%. Exports shot up by 36.2%.

Investment came in at 28% growth, and although the services sector lagged behind overall at 15.6% growth, there was a surge in accommodation and catering, which was up 43%. Retail sales clocked 27.8% growth.

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