GUANGDONG'S exports continued to nose dive in the first two months of this year while domestic production rose nine per cent, the provincial governor told a study session in Beijing.
Governor Lu Ruihua reported on the province's economic performance at a session studying 'the important speeches delivered by CCP General Secretary Jiang Zemin and Premier Zhu Rongji at the NPC Guangdong delegation', yesterday's Guangzhou-based Yangcheng Evening News said.
Mr Lu said the province had picked up from the fourth quarter of last year with 'an enormous increase in investment and rapid industrial growth'.
The agriculture sector had performed satisfactorily and there had been an overall balance between income and expenditure.
'The economy has been stable for the first two months of 1999 and we have a gross domestic product of 113.88 billion yuan (HK$106.58 billion), which is a nine per cent increase,' Mr Lu said.
The growth rate is slightly higher than the annual target of 8.5 per cent set at last month's Provincial People's Congress.