Twenty-nine Chinese provinces record double-digit GDP growth in Q1

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Twenty-nine Chinese provinces record double-digit GDP growth in Q1
By Global Times
Published: Apr 27, 2021 01:14 PM


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All provinces in China, excluding Northeast China’s Jilin and Southwest China's Tibet Autonomous Region whose data is yet to be published, recorded double-digit GDP growth in the first quarter of this year, according to statistics released as of Tuesday.

A total of 29 provinces, autonomous regions and municipalities have released their growth figures. Eight provinces record growth above national-average speed, led by Central China’s Hubei Province, the first province hard hit by the COVID-19 virus in 2020. It saw its GDP grow by nearly 60 percent year-on-year in the first quarter of this year.

Based on a two-year average, South China’s Hainan Province tops the country with 7 percent growth, followed by Southwest China’s Guizhou Province, East China’s Jiangxi and Jiangsu provinces. According to published statistics, Hainan’s growth was driven by the new services and retail sectors, which contributed 7.6 percentage points to the GDP

The double-digit year-on-year growth was due to the extremely low base from the same period last year when the country was feeling the full impact of COVID-19, local statistics suggest, and with the effective containment of the outbreak, developments across the industries, including manufacturing, retailing and catering, have resumed to near or over the pre-pandemic levels.

In Jiangsu Province, whose manufacturing sector takes up one seventh of the national total, the added value in industries above designated level rose by 33.6 percent year-on-year in the first quarter of this year, averaging at 11 percent in past two years. Seven out of the top 10 industries recorded growth of more than 25 percent.

In South China’s Guangdong Province, where China’s wholesales and retailing industries are concentrated, the contribution of retailing and catering to local GDP growth rose by 51.3 percent compared to last year.

In addition, foreign trade in several provinces has been driving accelerated economic growth in the first quarter. In Hubei, foreign trade spike 88.1 percent in the first quarter to 117.46 billion yuan ($18.11 billion). East China’s Shandong Province also saw its imports and exports grow by almost 39 percent, and Guangdong’s bonded imports and exports grow by 27.8 percent.

 

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