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JINAN, Oct. 25 (Xinhuanet) - Shandong, a major economic province in east
China, witnessed a sharp GDP growth in the first three quarters of 2005, or 15.3
percent year-on-year, the fastest growth rate since 1995, according to official
figures released T uesday.
Sources with th
e provincial statistics bureau said the GDP of Shandong
reached 1.337 trillion yuan (163 billion US dollars) in the first nine months,
and would continue the hike in the fourth quarter.
The booming industrial sector was the major drive of the growth hike, said
Du Changzuo, director of the Shandong statistics bureau, adding that the robust
manufacturing industry contributed the lion's share.
Though formerly an agricultural province, Shandong registered 743.8 billion
yuan in the added value of the industrial sector, an increase of 19.6 percent
year-on-year, according to official figures.
Meanwhile, the added value of agriculture was 132.3 billion yuan, rising 5
percent year-on-year, and the added value of the service sector grew 12.5
percent to reach 388.4 billion.
With such a growth rate, the eastern province was likely to replace Jiangsu
as China's second largest powerhouse at the end of this year, only after the
southern province of Guangdong, which has led the country's economic growth for
years, market observers said.
The GDP of Jiangsu in the first nine months of the year stood at 1.247
trillion yuan, growing 14.3 percent compared with the same period last year, but
lagged behind Shandong by more than 90 billion yuan, official statistics showed.
Last year, Shandong ranked third among the four Chinese provinces with a
GDP over one trillion yuan, behind Guangdong and Jiangsu but ahead of Zhejiang,
all of which registered double digit growth in the first nine months this year.
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