Guangdong economy expands 7.5 pct in 2017

GUANGZHOU, Jan. 25 (Xinhua) -- The south China economic powerhouse of Guangdong reported strong 7.5-percent economic growth in 2017 as it moved up the industrial value chain.

Guangdong's gross domestic product reached 8.99 trillion yuan (1.4 trillion U.S. dollars), accounting for 10.5 percent of China's total, the provincial bureau of statistics said Thursday.

China's economy expanded 6.9 percent last year, picking up for the first time in seven years and well above the government's annual target of around 6.5 percent.

Guangdong has been speeding up its transition from old economic drivers to new growth momentum, rolling out more policies to support the advanced manufacturing and high-tech industries.

Local businesses are also spending more on research and development, the bureau said. Enditem