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China's manufacturing hub reports robust GDP growth

Xinhua, February 24, 2016 Adjust font size:

South China's Dongguan City recorded an 8-percent GDP growth in 2015, as the production base for mobile phones and garments shifted to innovation and technology to pick up the slack left by traditional manufacturing.

Despite facing "particularly harsh economic conditions," the city's GDP grew by 8 percent to reach 628 billion yuan (96 bln U.S. dollars) last year, said mayor Yuan Baocheng while reporting to the city's annual legislative session that opened on Wednesday.

The figure outpaced the national average of 6.9 percent in 2015 and the city's 7.8-percent growth in 2014, suggesting a still powerful economic engine.

Yuan said the number of high-tech companies in the city has tripled over the past five years, and contributions made by advanced and high-tech manufacturing to local GDP rose by 7.4 percentage points and 10.9 percent percentage points in 2015.

The report also projected an average annual growth of 8 percent for the city between 2016 and 2020.

Dongguan has been shifting its focus from low-end manufacturing to high-tech and robotic industries in recent years to answer to the nation's call for industrial upgrading.

Local officials acknowledged that the city's traditional manufacturing is losing appeals to investors but said more investments are entering into its high-tech sector. Endi