Guangzhou reports 7.5pc growth in first quarter

Wednesday, April 24, 2019

Guangzhou registered a year-on-year economic growth of 7.5 percent in the first quarter as more new industries gain momentum in the manufacturing hub.

The value of GDP reached 550.8 billion yuan, Xinhua reports.

Emerging industries accounted for 19.2 percent of the total GDP, said the city's development and reform commission. The total added value of eight major emerging industries including the biological medicine, new energy, rail transit, high-end intermediary services and robots grew by 8 percent.

The information service industry expanded by over 20 percent, among which the added value of information transmission, software and information technology services have realized a 20 percent growth for eight consecutive quarters.