TNAG-2527-FCO40-3696-Hong-Kong-China-Relations-Committee-1992 — Page 123

禨密

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year, giving an increase of 28.9% in money terms over a

year earlier. Following a decade long of rapid economic

to

pay

growth, the Guangdong provincial government recently began

more attention in developing the mountainous

areas(16) by relocating some of the more labour-intensive

industries there. It also planned to invest Rmb 10 billion

in infrastructural development works in these areas over

the next five years.

18.

Guangdong's total exports increased by 28.3% in

money terms to US$9.3 billion in the first three quarters

of 1991. The total value of transactions concluded at the

70th Export Commodity Fair held in Guangzhou (15-30 October

1991) reached US$6.1 billion. This was 6.5% more than in

the autumn trade fair last year and was also the best

result recorded in history. Contributing to the good

result were the efforts spent by MOFERT in enhancing the

image of the Guangzhou trade fair and in discouraging the

small-scale regional trade fairs. Among all the provinces

and municipalities having participated in the 70th Export

Commodity Fair, Guangdong achieved the best result with the

total value of transactions concluded exceeding US$1

billion. This was followed by Shanghai and Jiangsu.

19.

Accompanying the rapid export growth, the value

of realised foreign capital (including both equity

investment and loans) in Guangdong amounted to US$1.1

billion in the first seven months of 1991, representing an

increase of 14.9% over the same period in 1990. The

realised value of direct foreign investment increased by

(16) The mountainous areas in Guangdong took up 65% of the province's total area and 40% of its population, but they accounted for only 10% of the province's gross industrial output and 2.5% of its total exports. Per capita GDP in these areas was only Rmb 1,158, compared with the provincial average of Rmb 2,395 in

1990.

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