In 1999, Guangdong Province had a Gross Domestic Product (GDP) of over USD$100 billion, surpassing any other region in China and accounting for 10 percent of China's total GDP. Since the implementation of the economic opening policy, Guangdong has sustained relatively high growth averaging over 10 percent annually. Due to the macroeconomic downturn in Asia, the growth rate in Guangdong has slowed a few percentage points in the last couple of years. Other indications of the effects of the Asian Financial Crisis on the province include widespread deflation of food prices, a slowdown of investment, and falling exports. Nonetheless, the economy was on the rebound within a year as the provincial economy jumped back up to its original pace. Foreign direct investment in Guangdong is the highest of all the provinces in China, approximately 40 percent of the total. Even though the 1999 figures reflect the slowdown earlier in the year, foreign direct investment managed to maintain its level from the previous year, and exports ended the year up 3 percent. On the other hand, the laggard Asian economy did not affect import figures. The steady 16 percent growth in imports were boosted mainly by two factors: 1) a rapidly growing consumer market and 2) government policies that supported upgrading to more advanced manufacturing. The results of the policy to pursue value-added sectors of the economy are noticeable in the employment figures. Unemployment is at a low 2 percent and the province continues to import labor from other provinces. Standards of living are relatively high in the cities where the average annual income is 9,085 RMB, approximately USD$1,100.