Guangdong facing tough times

GUANGZHOU: Guangdong province recorded markedly slower growth in its major economic indices in the first 10 months of this year and could face new challenges in the next two years.

Li Miaojuan, director of the Guangdong development and reform commission, said this in a mid-term assessment of the 11th Five-Year Program (2006-10) to the standing committee of the provincial people's congress on Tuesday.

Growth in gross domestic product (GDP), exports and government revenues of Guangdong were 10.3, 13 and 17.2 percent respectively in the first 10 months, 4.4, 10.8 and 33.4 percentage points lower year-on-year, Li said.