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As the most two dynamic economic zones of China, Yangtze River Delta and Pearl River Delta (the two Deltas, for short) have further increased their economic output and been more open to foreign investment and international cooperation in the previous year. Their economic stability and coordination are strengthened; the process of regional integration accelerates. However, regional resources are not fully integrated and achieve free flow, and industrial structure is not yet developed into grads. 

 I. sustained and stable economic development of Yangtze River and Pearl River Delta zones

(1) steady growth of economic output

In 2005, GDP of Two Deltas totaled 5202.2 billion yuan, accounting for 28.4% of national GDP (18308.5 billion yuan), up 0.6 percentage points than 27.8% in previous year. GDP of the Yangtze River Delta region reached 3396.3 billion yuan, another record following the breakthrough of 2000 billion in 20003. GDP of Pearl River Delta zone was 1805.9 billion yuan, increasing by 273 billion yuan over last year.

Comparison on GDP of Yangtze River Delta and Pearl River Delta from 2001 to 2005

(2) Steady and moderate economic growth

As affected by national macro-regulation and control, in 2005 economic growth of the two Deltas slowed compared with the previous year. Economy of Yangtze River Delta grew by 13.5%, down 1.9 percentage point over the previous year; Pearl River Delta increased by 15.8%, 0.3 percentage points lower. But their economic growth was still higher than the 10.2% national average.

Comparison of GDP growth between Two Deltas and the national Level from 2001 to 2005

(3) Growth of foreign trade

In 2005, total trade volume of Yangtze River Delta reached 502.4 billion U.S. dollars, up 25.2% than previous year; trade volume of Pearl River Delta mounted to 410.7 billion U.S. dollars, an increase of 20.2%. Their foreign trade has mounted a new step. Their total trade volume reached 913.1 billion U.S. dollars, accounting for 64.2% of national volume. Exports accounted for 66% of the national volume, while the imports 62.1%.

Comparison of foreign trade volume between Two Deltas and national levels from 2001 and 2005  

(4) further increase of foreign capital in actual use

In 2005, direct foreign investment in the two Deltas totaled 37.8 billion U.S. dollars, an increase of 3.5 billion U.S. dollars over the previous year. It accounted for 59.3% of the total investment, increasing by 5.7 percentage points compared with 53.6% of previous year. A total of 41.3% of foreign investment went to Yangtze River Delta, 3.5% higher than the previous year; Pearl River Delta covered 17.9% of total investment, up 2.1% over the previous year. The Two Deltas still attract the most foreign investment in China.　

(5) sustained development of Fixed assets investment

In 2005, 1617.2 billion yuan was invested in fixed assets of Yangtze River Delta, an increase of 18.6%; 529.7 billion yuan went to Pearl River Delta, an increase of 16.6%. Because the government strengthened macro-regulation and the two Deltas have a large base number, investment growth dropped to varying degrees than previous year and their growth were also lower than the national average level. However, fixed asset investment of the two Deltas still increased by 329.3 billion yuan, which accounted for 18.1% of national growth.

Comparison on fixed assets investment between Two Deltas and the national level

(6) growing income and improved living standard

In 2005, income of urban and rural residents saw steady growth, and their living standard and life quality were further improved. In 2005, disposable income per capita of urban households exceeded national average. It was 15,607 yuan in Yangtze River Delta, 48.7% higher than national level and 17,477 yuan in Pearl River Delta, 66.6% over national average. Net income per capita of rural residents was almost twice of the national average. The number was 7,109 yuan in Yangtze River Delta, 2.2 times of the national level and 6,331 yuan in Pearl River Delta, 1.9 times of national level.

Comparison on disposable income per capita of urban households between the two Deltas and national average from 2001 to 2005

Comparison on net income per capita of rural residents between the two Deltas and national average from 2001 to 2005 

(7) revenue reached new record high

In 2005, revenue of the two Deltas mounted to 438.5 billion yuan, up 31% over last year. It accounted for 13.9% of state revenue, an increase of 1.2 percentage points compared with 12.7% in last year. Revenue of Yangtze River Delta reached 317.4 billion yuan, an increase of 31.5%. Its proportion to regional GDP rose from 8.3% to 9.3%. Revenue of Pearl River Delta was up to 121.1 billion yuan, increasing by 29.4% over last year and its proportion to regional GDP grew from 6.1% to 6.7%.

Comparison on state revenue between the two Deltas and national average from 2001 to 2005 

II. Comparison between Yangtze River Delta and Pearl River Delta

As two major dynamic economic zones, the two Deltas have many shared features in their economic vitality, open-up policies, attracting foreign investment and structural optimization and upgrading however, differences still exist in their economic development.

(1) Yangtze River Delta had larger economic output.

In 2005, GDP of Yangtze River Delta reached a total of 3356.7 billion yuan, which was 1.86 times of Pearl River Delta (1805.9 billion yuan).GDP of Yangtze River Delta was 1.92 times of that of Pearl River Delta in 2000 and 1.89 times in 2004, indicating their economic output gap is gradually narrowing.

(2) Their economy maintained rapid growth, and Pearl River Delta grew faster by 2.3 percentage points.

In 2005, the two Deltas maintained rapid economic growth. Economy output of Yangtze River Delta grew by 13.5%, 2.3 percentage points higher than Pearl River Delta (15.8%).The economic growth rate of Pearl River Delta has always been higher than that of Yangtze River Delta. Average economic growth rate of Pearl River Delta from 2000 to 2005 is 1.5 percentage points higher over that of Yangtze River Delta.

(3) Pearl River Delta had higher GDP per capita.

Floating population accounts for a large proportion in Pearl River Delta which far exceeds that in Yangtze River Delta. In 2005 GDP per permanent resident (41,990 yuan) of Pearl River Delta was higher than GDP per registered permanent resident (40,612 yuan) of Yangtze River Delta, up 3.4%. Economic profit per capita in Pearl River Delta was significantly higher.　

(4) imbalanced urban and rural income in the two Deltas

In recent years, the gap between urban and rural areas in both Deltas is widening. In 2005, disposable income per capita urban residents in Yangtze River Delta was 15,607 yuan, 2.2 times of the net income per capita in rural area (7,109 yuan). And in 2000 the former was twice of the latter. In 2005 gap between urban and rural areas was greater in Pearl River Delta than in Yangtze River Delta. In 2005, disposable income per capita urban residents in Pearl River Delta was 17,477 yuan, 2.8 times of the net income per capita in rural area (6,331 yuan).

(5) Revenue of Yangtze River Delta was 2.62 times of Pearl River Delta.

In 2005, revenue of Yangtze River Delta reached 317.4 billion yuan, 2.62 times of Pearl River Delta (121.1 billion yuan).The gap is on increase with economic growth of Yangtze River Delta in recent years. The revenue of Yangtze River Delta was 2.58 times of Pearl River Delta in 2004, 2.28 times in 2003 and 2.02 times in 2002.

(6) Foreign trade developed faster in the Yangtze River Delta.

In recent years, foreign trade in Yangtze River Delta achieved fast growth. In 2005, foreign trade volume of Yangtze River Delta increased by 25.2% than previous year, up 5 percentage points than that of Pearl River Delta (20.17%). Growth of foreign trade was 18.8 percentage points higher in Yangtze River Delta than in Pearl River Delta. By 2005, the proportion of Yangtze River Delta to national external trade rose to35.33% from 27.09% in 2001. While corresponding proportion of Pearl River Delta declined to28.88% from 33.04% in 2001. Yangtze River Delta took an increasingly important position in China's foreign trade industry.

Comparison on total foreign trade volume between the two Deltas from 2001 to 2005