GDP:
According to preliminary calculations, the province's GDP reached some 1,345 billion yuan, in 2003, up 13.6 percent year-on-year.
GDP ratio (1st, 2nd and tertiary industries):
In 2003, value-added within the primary industries was some 105 billion yuan (up 1.2 percent), in the secondary industries the figure was 705 billion yuan (up 18.0 percent) and in the tertiary industries, 535 billion yuan (up 10.8 percent).
Foreign trade:
In 2003 total foreign trade amounted to some US$284 billion (up 28.3 percent year-on-year). Of this figure, exports contributed US$153 billion (up of 29.1 percent) and imports US$131 billion (up 27.3 percent) realizing a positive balance of trade which was up US$6 billion at US$22 billion.
Bilateral trade with the province’s major trading partners reached new highs during the year. Total trade with Hong Kong stood at US$59 billion (up 24.4 percent), the United States US$45 billion (up 22.8 percent), Japan US$35 billion (up 29.6 percent) and the EU US$31 billion (up 30.6 percent).
The top-ten bilateral trading partners in order by value were: Hong Kong, the U.S.A., Japan, Taiwan, Korea, Germany, Malaysia, Singapore, the Netherlands and Thailand.
Foreign investment:
The total number of new contracts signed during 2003 was 2 percent down in the year at 11, 472, however the value continued to grow with direct contracted foreign funding reaching some US$24 billion (up 29.4 percent).
Foreign funding actually put in place amounted to US$19 billion (up 14.2 percent) through 7,306 foreign direct investment projects (up 10.5 percent). These represented contracts involving US$22 billion of foreign funding (up 34.7 percent) with foreign capital transfers of US$16 billion (up 18.8 percent).
The contracted capital for FDI (foreign direct investment) projects averaged almost US$3 million, an increase of US$537,000. Meanwhile 627 projects topped the US$10 million mark either in their funding for new projects or in additional funding for existing projects and together these larger value projects represented contracted foreign investment of US$10 billion.
Foreign funding amounted to US$179 million in the primary industries (up 12.6 percent), US$11 billion in the secondary industries (up 12.0 percent) and US$4 billion in the tertiary industries (up 41.8 percent).
The investment of foreign capital was most evident in the manufacture of electronic and telecommunications equipment with US$2,366 million, real estate with US$1,550 million and social services with US$850 million.
New FDI contracts were signed with Hong Kong investment sources to the value of US$10 billion in 2003 (up 28.8 percent) with funds actually put in place approaching US$9 billion (up 23.9 percent). Contracts were signed with EU sources to the value of US$500 million (up 63.1 percent) with US$740 million put in place (up 114.7 percent).
Direct investment from other countries and regions also increased markedly with Korea up some 90 percent, ASEAN up 12 percent, Canada up 31 percent, Australia up 56 percent and New Zealand up 15 percent.
The top-ten sources of FDI in terms of capital actually transferred were: Hong Kong, the Virgin Islands, the U.S.A., Taiwan, Japan, Singapore, the Netherlands, Macao, Western Samoa and the Cayman Islands.
Poverty alleviation:
The year 2003 saw 4.3 billion yuan allocated to the poorest areas in the east, west and north of Guangdong. The money went as relief to those living below the poverty line and to a fund that provides for topping-up salaries. Out of the total figure, 1.2 billion yuan was targeted to programs in the 16 key poor counties. Since October the government has paid the salaries of all teachers and employees of government offices directly in order to guarantee that they are paid regularly and on time.
Each year since 2001, the provincial government has allocated more than 300 million yuan to support the children of poor rural families with annual net incomes below 1,500 yuan per head. This covers their fees for books and certain miscellaneous expenses throughout their time in compulsory education.
Last year, 600,000 children from poor rural families got their schooling completely free. The provincial government has also established a special fund to support middle and primary schools in mountainous and economically underdeveloped areas and new teaching programs in information technology and English are being piloted.
The province places an emphasis on infrastructure projects in such fields as communications, telecommunications and energy as a means of improving the environment for economic development in its mountainous and economically underdeveloped areas.
The provincial government has set up a special fund to support highway construction in the 16 key poor counties. It is speeding up the construction of a network of highways to link the central cities with the eastern and western parts and with the mountainous northern area of the province. Expressways now connect the four mountain cities of Qingyuan, Shaoguan, Heyuan and Meizhou with the Pearl River Delta.
Pillar industries:
Household electric appliances, plastic products, foodstuffs, garments, textiles, electronics, electric power generation and metallurgy.
