Re­gional GDP data in­di­cate re­silience

China Daily (USA) - - BUSINESS -

China’s local economies are show­ing re­silience as the coun­try at­tempts a trans­for­ma­tion from cheap, mass pro­duc­tion to more pro­duc­tion in­volv­ing higher qual­ity and val­ueadded prod­ucts, ac­cord­ing to the lat­est fig­ures. Of 28 prov­inces, mu­nic­i­pal­i­ties and au­ton­o­mous re­gions that re­leased GDP growth fig­ures for the first three quar­ters of the year, 18 re­ported faster or equal growth to that in the first half. “The growth gap be­tween re­gions has nar­rowed,” said Zhang Liqun of the State Council’s de­vel­op­ment re­search cen­ter. “The eco­nomic pres­sure in re­gions like the North­east and Shanxi has eased and their economies are re­cov­er­ing,” Zhang said.

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