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Guangzhou, the capital city of Guangdong Province, reports positive economic growth in the second quarter of 2020 although its GDP went down by 2.7% year on year in the first half (H1) of 2020 to ¥1096.829 billion (€133.73 billion), boosted by recovering the development of the information service industry, financial industry, and others, according to Guangzhou Statistics Bureau.
In terms of foreign trade, the city’s import and export volume was 425.36 billion yuan, with a decrease of 7.6%. Among them, exports went down 1.7% and the imports fell 13.8%. In its trade with the Belt and Road countries, the ASEAN, Oceanian countries and African countries volume rose by 8.3%, 21.7%, 15.1% and 5.4%, respectively.
