Jan. 24 - The aim of this South China city is to have a GDP of more than 1 trillion yuan ($128.21 billion) by 2011, Guangzhou Mayor Zhang Guangning has said.

In his annual work report to the ongoing¹ municipal people's congress, the mayor said Guangzhou's economic development had been very bullish and its per capita GDP was expected to top $13,000 by 2011, much more than the benchmark $10,000 for a developed economy, if only its registered permanent residents were taken into account.

The capital of Guangdong Province is expected to optimize² the economic structure in the next few years by expediting the development of high-tech³ industries, such as software and bio-medicines, and consolidating⁴ the development of the automobile⁵ and petrochemical industries.

The city's objective is to realize an annual software industrial output of 110 billion yuan ($14.1 billion) by 2010, and bio-medicine output of 100 billion yuan ($12.82 billion).

"High-tech industries should be developed so that they can be a key driver of the economy The city's aim is to become a technological⁶ innovation and software and bio-medicine center in South China and even in the entire country."

The city will expedite the development of its manufacturing-orientated service industry, too, he said. The advantages its airport, harbors and cyberport enjoy can be maximized for a faster development of the tertiary sector⁷, directed primarily toward the manufacturing industry.

Guangzhou will do more to support private enterprises to help them grow and account for at least one-third of its output.

The GDP target set for this year is 12 percent growth over the 600 billion yuan ($76.92 billion) for last year.

Investment in fixed⁸ assets this year is expected to grow 8 percent over 2006; consumer retail⁹ and exports volume are expected to grow by 12 percent each; and foreign capital inputs¹⁰ are expected to grow by 8 percent.

The Director of the Regional Economy Research Institute under the Guangzhou Academy of Social Sciences, Yang Zaigao, is optimistic about the city's blueprint¹¹ for development.

"Guangzhou's per capita GDP was 69,000 yuan ($8,846) in 2006 if only its registered permanent residents were counted, and the average annual income of the people was over 30,000 yuan ($3,946),"Yang said. "So Guangzhou residents will be able to have an average annual income of about $5,000 in 2011.

"One out of every five families will own a car and the per capita living space would reach 20 square meters," he said.