Guangdong 2013 Q1 GDP growth recorded 8.5%, led by the service sector

Reporter learned from the Guangdong Provincial Bureau of Statistics that from January to March of this year, Guangdong Province’s GDP growth was 8.5% and GDP totaled 1.261288 trillion yuan (US $201.81 billion), higher than the national growth rate of 0.8%. But the growth rate is lower compared with Jiangsu’s 1.2%, for the first quarter there is only a difference of 73.158 billion yuan (US $11.71 billion) between Jiangsu and Guangdong meaning to say that the GDP gap these two major economies is reduced. In addition, the real estate market of Guangdong Povince this year experienced a 70% sale increase (last year first quarter sale was relatively very low).

Service sector contributed 51.9% to the growth

Along with the growth in the finance, real estate and transportation, the service sector continued to maintain a rapid growth to become an important force to promote economic stability and healthy development. It is understood that from January to March this year, the tertiary industry added value of 612.028 billion yuan (US $97.92), an increase of 9.2%, the economic growth contribution rate is 51.9%.

Guangdong commercial housing sales achieved a growth of 15.89% in 2013 Q1

The real estate industry realized an added value of 69.657 billion yuan (US $11.15 billion), an increase of 16.4%; sales in the commercial property market was booming, coupled with a low basis over the same period, total areas of real estate sold and total sale volume achieved 50.5%, 74.4% growth respectively, an increase by 44.2, 64.9 percentage points compared to that of the whole 2012. Based on these data the reporter calculated that in the first quarter, commercial housing sales achieved a growth of 15.89%.

Per capita disposable income growth in Guangdong: 6.9%

In first quarter of this year, 424,000 million new jobs were created in the province’s cities and towns, an increase of approximately 0.7%. At the same period, Guangdong’s urban residents per capita disposable income was 9596.9 yuan, a year-on-year increase by 9.0% in nominal terms, after deducting price factors, the actual growth of 6.9%, 0.2 percentage points higher than the national average over the same period. Rural per capita cash income was 3599.6 yuan, a year-on-year by 10.5% in nominal terms, after deducting price factors, the actual growth was 7.8%.

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