Guangdong economy powered by advanced manufacturing and smartphone technology

Gross domestic product (GDP) in the first three quarters in South China’s Guangdong province reached 6.48 trillion yuan ($977.5 billion), up 7.6 percent year-on-year, while GDP in East China’s Jiangsu province hit 6.26 trillion yuan, up 7.2 percent, reported China Business News Tuesday.

The GDP growth rate in Guangdong province was 0.3 percentage points higher than that in the same period last year. In addition, Guangdong’s first three quarter GDP accounted for 10.6 percent of China’s entire GDP, 0.1 percentage points higher than the percentage in the same period last year.

In the first nine months of this year, industry contributed 37.9 percent of the GDP growth in Guangdong, 1.6 percentage points higher than the same period last year and 0.5 percentage points higher than the first half of this year.

Advanced equipment manufacturing and home appliance manufacturing along the west shore of Pearl River has improved a lot and the smartphone industry in Dongguan city, along the east shore of Pearl River, has been developing fast.

During the first three quarters, GDP in advanced and new technology industries in Jiangsu province reached 5.47 trillion yuan, up 14.5 percent year-on-year and accounting for 42 percent of the whole output of industrial companies above the designated level.