China Press: China’s economic powerhouse Guangdong posts steady Q1 growth – Reuters

The 21st Century Business Herald quoted some Chinese local officials, as saying that Guangdong, China’s top province by economic output, maintained a growth rate of 6.6 percent in the first quarter of 2019.

Key Details (via Reuters):

“Guangdong provincial government’s growth target is of 6.0 percent to 6.5 percent this year and the Q1 growth figures held steady from growth in the fourth quarter of last year.

Export-oriented Guangdong, whose gross domestic product of about $1.4 trillion is equivalent to that of Australia, has been battling intense pressure from a nine-month long trade war between the United States and China, with many businesses in the region shifting production out of China as factory orders dried up.

In line with the national trend, Guangdong’s industrial production raced to a nine-month high in the first quarter, with output of new energy vehicles rising 252.1 percent from a year earlier.

Production in telecommunication base stations in Guangdong surged 154 percent, likely due to the government’s push to launch 5G services across the region.”