Guangdong is realising Deng's vision: governor

PUBLISHED : Wednesday, 08 March, 2006, 12:00am
UPDATED : Wednesday, 08 March, 2006, 12:00am

Former leader Deng Xiaoping's vision for Guangdong to become the most vibrant emerging economy in East Asia by 2012 is well on the way to being realised, according to the province's governor.

Spurred by a booming manufacturing industry, the province's gross domestic product exceeded 2 trillion yuan last year, while total foreign trade reached 420 billion yuan, Governor Huang Huahua said, adding that this put Guangdong's economy ahead of some Southeast Asian countries and Hong Kong.

'When Deng Xiaoping visited Guangdong in 1992. He said we should catch up with the four 'little dragons' [Hong Kong, Singapore, Taiwan and South Korea] in 20 years. We are now already ahead of Hong Kong and Singapore,' he said.

Mr Huang said Guangdong would focus on developing its own international brands and hi-tech industry. He also pledged that his administration would invest more in improving energy efficiency.

He said the industrial output of Guangdong's hi-tech businesses had been growing an average of 25 per cent a year for the past five years, making it the most important hi-tech centre on the mainland.

'We took 20 years to reach the 1 trillion yuan [GDP] mark, but only five more to reach 2 trillion yuan. I believe we can overtake Taiwan and we will strive to catch up with South Korea,' he said.

Mr Huang said Guangdong also needed to reduce the wealth gap between the Pearl River Delta and the rest of the province.

'More than 90 per cent of our energy resources are imported from outside. Energy has become a bottleneck for our development. We must improve our energy efficiency through new technology and education,' he said.