LI FUNG RESEARCH CENTRE China （李FUNG中国研究中心）.pdf

LI FUNG RESEARCH CENTRE China Distribution Trading Issue 83 May 2011 IN THIS ISSUE : Consumption in Guangdong, 2011 Guangdong has enjoyed impressive economic growth over the past decades. In Part I: Economic profile 2 2010, Guangdong recorded a total GDP of 4.55 trillion yuan and total retail sales of Guangdong of 1.74 trillion yuan, with both ranking top among the provinces in China. Indeed, Guangdong’s GDP value has surpassed Singapore, Hong Kong and Taiwan one PART II. Guangdong 8 by one since 1998. It is also widely predicted that size of Guangdong economy will as a consumer market overtake South Korea in five years’ time. Part III. Retail landscape 15 China’s 12th Five-Year Plan calls for boosting domestic consumption. In line with in Guangdong this economic development direction, Guangdong will strive its best to speed up urbanization and increase people’s income so as to achieve an annual growth of GDP Part IV. Going forward 26 and GDP per capita by 8% and 7% respectively in the next five years. We believe – key highlights strong economic fundamentals shall drive the growth of Guangdong’s consumer market. This report aims to present an overview of Guangdong’s consumption. The document has four parts. Part I presents an introduction and statistical overview of the economy of Guangdong. With the analyses of t