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Dongguan's mayor insists 'world's factory' will hit its 8 percent growth target

By Xu Jingxi In Guangzhou | China Daily | Updated: 2016-01-29 07:55

The mayor of Dongguan, Yuan Baocheng, has denied rumors of large-scale factory closures in the Guangdong province city, insisting it will hit its annual gross domestic target of 8 to 8.5 percent this year.

The Pearl River Delta manufacturing hub built its name as "the world's factory" on the labor-intensive processing trade and attracting huge overseas investment .

Reports have suggested, however, that at least 4,000 factories in the city went out of business or moved to other cities or countries with lower labor costs in 2015.

Dongguan's mayor insists 'world's factory' will hit its 8 percent growth target

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