Guangzhou'S Exports Or Negative Growth Next Year

The proposal for major construction projects in Guangzhou, 2009~2010, adopted by the Executive Committee of the 24 municipal government in Guangzhou (hereinafter referred to as the "plan") shows that in the next two years, Guangzhou will invest more than 330 billion yuan in the construction of major projects, so as to stimulate economic growth by accelerating the construction of major projects.

The current financial tsunami has had a great impact on Guangzhou, which has a high degree of dependence on foreign trade.

"Our city's foreign trade depends on more than 70% of its foreign trade, and the export enterprises are facing difficulties in their operation, which has a great impact on the overall operation of the city's economy."

Zhang Guangning, mayor of Guangzhou, said at the meeting that the impact of the financial crisis on Guangzhou's economy has been increasing since the second half of the year. The city's economic growth has slowed down, its fiscal revenue has slowed down, and its business efficiency has declined significantly.

According to "Nanfang Daily", Xiao Zhenyu, director of the Guangzhou Municipal Bureau of foreign trade and economic cooperation, revealed that Guangzhou's export situation was severe this year due to the shrinking of the European and American markets and the appreciation of the renminbi. In October, the export growth rate has dropped significantly. It is estimated that exports may even have negative growth next year.

For this reason, Guangzhou was led by the municipal development and Reform Commission and introduced the plan.

The plan summarizes 54 major projects to be built in the next two years, and the total investment is estimated to be about 630000000000 yuan. It is estimated that about 330000000000 yuan will be completed in the next two years, which will lead to a total investment of about 500 billion yuan in fixed assets in the whole society.

Tan Hong, director of the comprehensive office of the Guangzhou Municipal Development and Reform Commission, told the first financial daily that these projects cover eight major fields such as the Asian Games venues and facilities, modern service projects, high-tech industrial projects, advanced manufacturing engineering, rural infrastructure, social livelihood, urban infrastructure, and environmental protection, but specific projects are still being further selected.

As for the source of funds, Tan Hong said that the government's financial investment is still being further calculated. Guangzhou will make financial investment to stimulate bank loans and private investment to complete the above investment objectives.