GDPgrowthgoalsetat11

From: Shenzhen Daily

Updated: 2010-01-07 17:01

SHENZHEN has set a goal of 11 percent GDP growth for this year, after attaining its goal of 10 percent growth in 2009, Party chief Liu Yupu said at a provincial meeting Tuesday.

Despite the economic downturn and the negative influence exerted by corruption cases amongst some officials last year, Shenzhen secured a 10.5 percent growth in GDP as well as a 10 percent increase in fiscal revenue from a year ago, Liu said at the sixth plenary session of the 10th Guangdong Provincial Committee of the CPC.

In addition, Shenzhen"s imports and exports last year accounted for 14 percent of the country"s total and about half of those realized by the province, Liu said.

"The city government has temporarily set the goal of 11 percent GDP growth for 2010, and we think it is a moderate goal," Liu said. If the city"s economy grows by 11 percent this year, Shenzhen"s GDP will reach 900 billion yuan (US$132 billion), he said.

Shenzhen"s economy started to rebound in March last year and growth accelerated in the second half of the year, official figures showed. The city"s exports have also been recovering slowly.

In an indication of this, a larger percentage of export companies in Shenzhen shipped more goods to overseas countries starting August last year than a year earlier, according to Li Jing, director of the Shenzhen Chamber of Commerce for Import and Export.

Source:Shenzhen Daily