Go Guangdong

Article excerpt

Think of a province in China with almost the same population as the Philippines (94 million) with an average annual GDP growth rate of 13, 7% in the last 30 years and in 2008, a GDP exceeding 500 billion US dollars. You could only be thinking of the province of Guangdong. As Governor Huang Huahua informed us during a luncheon hosted by the Federation of Filipino Chinese Chambers of Commerce and Industry, Guangdong’s economic volume exceeds that of three of Asia’s “Four Little Dragons” – Singapore, Hong Kong and Taiwan.Guangdong is the premier economic province of China, accounting for 1/8th of its GDP and number one in China for the 20th time in a row in GDP and for the past 23 years, number one in foreign trade, taking up 1/3 of China’s total.Its accumulated FDI in the past 30 years was 213.66 billion US dollars and in 2008, its foreign trade volume reached 683.26 billion US dollars. One must note that its capital, Guangzhou has been an important trading port connecting China and the rest of the world for centuries as well as the starting point of the famous marine Silk Road. Guangdong has established over 2,000 non-financial enterprises in 90 countries and regions all over the world and has air and shipping services exchange with 1,100 ports in the world.All these have been achieved because the provincial government has vigorously implemented the macro-economic policies of the central government and as expressed by Governor Huang Huahua, “timely put forward series of measures to expand domestic demand.” The “New Ten Major Projects” to accelerate infrastructure  construction was launched; self-initiated innovation promoted; industry transformed and upgraded; and a modern industrial system built. …