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Chinese provincial regions see faster H1 GDP

Post Date: 24 Aug 2015    Viewed: 571

Almost all Chinese provincial-level regions posted faster economic growth in the first half of this year, compared to the first quarter, official data showed.

Total GDP reached about 29.69 trillion yuan ($4.65 trillion) in the first half of this year, a year-on-year increase of 7 percent, according to the National Bureau of Statistics (NBS).

Out of 31 provincial level regions, 27 posted faster growth.

Southwest China's Chongqing Municipality registered the fastest GDP growth at 11 percent in the first half year, while the northeast province of Liaoning saw the slowest growth, the NBS said.

The provincial-level regions, including Beijing and Hebei Province, saw their GDP growth in the first six months rebound from the first quarter, with south China's Hainan Province posting the biggest rebound rate by gaining 2.9 percentage points from the growth pace in the first quarter.

Only north China's Inner Mongolia Autonomous Region and southwest China's Tibet Autonomous Region saw their GDP growth rate slower than the first quarter by 0.9 and 0.1 percentage points, respectively.

East Shandong and Anhui provinces saw their H1 GDP growth rate unchanged from the first quarter, the NBS data showed.

Northeast China's Heilongjiang, Jilin and Liaoning provinces were among the bottom of the list for GDP growth, data showed, with Liaoning ranking the last at 2.6 percent growth, indicating lingering downward pressure for the region's economy.

In July, the National Development and Reform Commission (NDRC) allocated 50 million yuan ($7.83 million) to fund major projects in the northeast regions to help the area's stuttering economy. The money will be used for infrastructure, social welfare and environmental protection in Liaoning, Jilin and Heilongjiang provinces as well as Inner Mongolia Autonomous Region.

The northeast is a center for grain production, heavy industry and energy resources in China. Many cities face challenges as their energy resources are depleted and heavy industries face the burden of restructuring. 

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