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Xinhua: Guangdong Economy Slowing Down

Xinhua recently reported that the economy of Guangdong Province has been slowing down. Guangdong Province is one of the world’s major manufacturing bases. In the past two months, the output of large scale manufacturers has increased only 5% compared to the same period last year. According to the Guangdong Provincial Bureau of Statistics, foreign investment based manufacturers represent 60% of the industrial economy of the province. In the past two months, this section has declined by 0.4%. The heart of Guangdong’s economy is the Pearl River Delta region. The exports from the nine cities in this region only increased by 2.7% and Guangdong’s exports have shown a decline of 4% compared to last year. This is the first time in three years that the province has suffered a decline in exports. Eleven cities in the province have reported declines.

Source: Xinhua, March 24, 2012