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(19)
economic zones are even faster than the provincial
average. Guangdong's external trade also increased rapidly in the first three quarters of 1988; its exports
amounted to US$10.1 billion and imports to US$11 billion,
47.7% and 50.6% respectively higher than in the same
period last year.
During this period, Guangdong accounted
(20)
for about one-third of China's total exports
Besides rapid growth in industrial output and exports,
investment in capital construction also rose by 45% in
money terms in the first eight months of this year.
27.
But at the same time the problem of overheating
has become more serious. In the first eight months of
this year the retail price index for Guangdong was
average 24.6% higher than in the same period last year.
(The national average for the first nine months was only
16% (paragraph 9).) High inflation led to occasional
bursts of panic buying. As electricity supply increased by only 10% in the first three quarters of 1988, many
factories have been forced to suspend production for three
days a week. Coal supply was 60% short of demand. Also,
(19) Year-on-year growth rate in real terms gross
industrial output in the first three quarters of 1988 :
Special Economic Zones
Shenzhen
Zhuhai
Shantou
0101
50
71.8
38.1
(20) Statistics for Guangdong's exports probably include
those goods from other provinces purchased by enterprises in Guangdong for export. But goods in transit through Guangdong are not counted as Guangdong's exports.
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