Guangzhou economy maintained a rapid growth in 2008，GDP increased by 12.3% year-on-year.Services sector continued to maintain a relatively rapid growth，people’s livelihood and welfare were greatly improved，prices fell from a high level.The international financial crisis made a great impact on Guangzhou economy，some companies fell in trouble because of sharp contraction in demand.In 2009，developed economies are facing a greatest contraction since 1930s，that results in the increasing pressure on the economies of developing countries，and macroeconomic policies are turning loose.Chinese government also switched to proactive fiscal and flexible monetary policies，and timely carried out a huge economic stimulus package.At this time，Guangzhou is facing enormous challenges and opportunities.We propose that Guangzhou should make efforts to enhance the comprehensive strength and seize the commanding heights.In particular，Guangzhou should actively expand domestic demand，effectively enhance the capability of independent innovation，strengthen the function of comprehensive services，actively improve government services，and speed up the transformation of economic development mode.Guangzhou’s GDP growth is expected to drop to about 10.9% in 2009.