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In 2012, Guangzhou’s gross domestic product (GDP) expanded to RMB1,355.1 billion, up 10.5% from 2011, making it the fastest amongst China’s tier-1 cities. The tertiary industry saw a growth rate of 11.1% (year-on-year) to RMB861.7 billion, accounting for 63.6% of GDP which is up 2.1 percentage points from last year. Meanwhile, Guangzhou's three major industrial sectors saw a combined growth of 6.3%, 5.1 percentage points lower than 2011, with the electronic manufacturing and petroleum chemical manufacturing sectors rising 16.1% and 10.6%, respectively. However, the auto manufacturing sector saw a decline of 6.3%, the first decline ever recorded. Guangzhou saw subdued international trade in 2012 due to fallen external demand, combined with trade conflicts and rising costs. Exports rose 4.3% to US$58.9 billion but the rate of growth was 12.4 percentage points lower than 2011.
Source : Cushman & Wakefield
