The gross domestic product of South China's Guangdong Province
is likely to surpass that of Taiwan in a couple of years, experts
estimate.
"It will not take very long for Guangdong to catch up with
Taiwan," said Li Huiwu, deputy director of the provincial
government's development research center.
"Guangdong's gross domestic product grows by more than US$30
billion a year, while Taiwan's grows by about US$10 billion. It is
very likely that Guangdong will outpace Taiwan in 2008."
This year Guangdong's GDP growth rate is estimated at 14 percent
and its GDP is expected to top 2.5 trillion yuan (US$308.26
billion), Li said.
Taiwan's GDP reached US$323.4 billion last year.
"As a matter of fact, the provincial authorities attach greater
importance to the sustainability of economic development rather
than the speed of GDP growth," Li said.
"That is why the province has adjusted its annual GDP growth
rate to 9 percent in the 11th Five-Year Plan (2006-10)."
The yearly GDP growth rate was 13 percent from 2001 to last
year.
Energy, environment concerns
"Whether the province can lower energy consumption and improve
the environment as expected, depends crucially on the
sustainability of Guangdong's economic development,
"Though it is among the regions that have the lowest energy
consumption per 10,000 yuan (US$1,233) GDP in China, Guangdong, the
economic powerhouse of China, still have to figure out effective
ways to lower the energy consumption rate," Li said.
The province lacks its own energy resources. It is dependent on
other regions of the country and imports for more than 90 percent
of its energy.
The shortage of power, petrol and gas from time to time in the
past few years has caused concern for the province, Li said.
Guangdong has been highlighting high-tech industries,
encouraging independent innovation and generally speeding up the
development of industry, he said.
The province has placed controls on heavy energy-consuming
industries and encouraged existing enterprises to revamp equipment
with energy-saving devices.
Guangdong aims to lower energy consumption per 10,000 yuan
(US$1,233) GDP by 16 percent by the year 2010 and the output of its
industry is expected to constitute 45 percent of its GDP by that
date.
The deputy director said Guangdong has been putting much effort
into improving its environment, which is equally important for
sustainable development.
According to sources, 70 percent of the rain in the booming
Pearl River Delta is acid rain, as compared to 40 percent for the
whole country, and water in the province's many rivers is not up to
standard.
Li said Guangdong is accelerating the use of clean energy by
power plants.
The province also plans to lower the emission of key pollutants
sulphur dioxide and chemical oxygen demand (COD) by 15 percent by
2010.
All small thermal power plants will be closed down by next year,
and the bigger ones will be installed with desulphuration equipment
by 2008.
The province will also increase the daily capacity of sewage
disposal by 2010.
Li said the province's investment in environment protection will
account for at least 3 percent of its annual GDP from 2006-10 to
generate a satisfactory green GDP.
Officials at different levels in the province's 21 cities have
been given energy-saving targets and performance measures in
environmental protection. These two factors will be taken into
account when evaluating their administrative performance.
Xu Junbin, an assistant professor with South China Normal
University's economics department, said Guangdong faces a tough
task to maintain a stable economic growth of 9 percent while
reducing energy consumption by 16 percent and improving the
environment.
(Xinhua News Agency December 11, 2006)