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Guangdong to 'lead nation out of crisis'

(Xinhua)
Updated: 2009-03-12 12:41

Guangdong province will be the first in the country to shake off the impact from the economic downturn and is confident of achieving fast economic growth this year, said a senior provincial official Wednesday.

Related readings:  Guangdong economy to 'recover in April'  Guangdong reports 31% drop in Jan foreign trade  Guangdong GDP set to grow 8.5%

As one of the country's major exporters, Guangdong experienced the effects of economic crisis the earliest and deepest among other provinces, but judging by the situation since the Chinese New Year, the province has confidence in leading the nation out of economic downturn, Guangdong's Vice Governor Wan Qingliang told reporters.

From the second half of last year, enterprises in Guangdong saw a reduction of orders and some medium-sized and small plants were shut down, according to the official.

Guangdong faces unprecedented difficulties, but with the solid foundation built in the past 30 years of reform and opening up, Guangdong is confident and capable of realizing fast and sound economic growth, Wan said.

Guangdong aims at an 8.5 percent economic growth this year.

He said the province had taken measures to adjust industrial structure, encourage technological innovations and expand domestic demand, all of which would contribute economic growth.