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Services pumping in hi-tech Guangzhou

More detail is dribbling out in local media after Guangzhou reported strong GDP numbers last week. One of the clear standouts was growth in the services sector, especially the so-called “modern services industry”, which is dominated by software and other IT-related services.

Although the city is often thought of as a bastion of heavy industry and manufacturing, while Shenzhen is usually described as the “tech hub”, Guangzhou’s economy is increasingly being driven by software and other IT-related services. According to official data, this sector accounted for 68.6% of Guangzhou’s GDP in the first three quarters, an increase of 0.1% over the first half of the year. Its added-value was up 15.5% YoY.

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