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Dalian, a port city in Northeast China's Liaoning Province expects its gross domestic product (GDP) to grow by 12 percent in 2003, local government said.
The prediction is backed up by the city's double-digit economic growth in recent years. Preliminary figures show that the city's GDP reached 140.6 billion yuan (US$17.15 billion) in 2002, an increase of 14.1 percent over the previous year.
Dalian's economy benefits a lot from the country's booming exports and the central government's efforts to stimulate domestic demand.
An official report given at the city's recent yearly planning meeting said that fixed-asset investment, consumption and overseas demand have become the major drivers of the city's economic development.
According to the report, the city's fixed-asset investment is expected to grow by 16 percent, and foreign direct investment by 10 percent, this year. Retail sales of consumer goods and export volume are both predicted to increase by 10 percent in 2003.
(Edited from China Daily January 2, 2002)
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