China sees GDP growth of 23 provinces over 7pc

The Pak Banker - - BUSINESS -

BEI­JING: 31 prov­ince-level re­gions had re­leased their lo­cal gross do­mes­tic prod­uct (GDP) data for last year, China Eco­nomic Net re­ported Thurs­day. Guang­dong takes the top spot with 7.28 tril­lion yuan ($1.11 tril­lion), fol­lowed by Jiangsu 7.06 tril­lion yuan and Shan­dong 6.30 tril­lion yuan. Of the 31 prov­ince-level re­gions that re­leased their lo­cal GDP data, 23 re­ported GDP growth over 7 per­cent year on year, while Chongqing, Guizhou and Ti­bet all posted dou­ble-digit GDP growth. Chi­nese eco­nomic growth de­cel­er­ated to the 25-year low of 6.9 per­cent in 2015, down from 7.3 per­cent in 2014, ac­cord­ing to data re­leased by the Na­tional Bureau of Sta­tis­tics.

Last year, 25 provinces joined the "one-tril­lion-yuan GDP club". Gross do­mes­tic prod­uct in six provinces, Guang­dong, Jiangsu, Shan­dong, Zhe­jiang, He­nan and Sichuan, ex­ceeded 3 tril­lion yuan, among which Guang­dong and Jiangsu topped the 7 tril­lion yuan mark for the first time. The bot­tom three are Ti­bet, Qing­hai and Ningxia Hui au­ton­o­mous re­gion, all with GDP bel­low 300 bil­lion yuan. In terms of GDP growth rate, Liaon­ing was the weak­est per­former last year, when its GDP growth fell to 3 per­cent, which was also the low­est level recorded in 23 years. That com­pared to 5.8 per­cent growth in 2014. Liaon­ing gov­er­nor Chen Qi­ufa said in a 2016 govern­ment work re­port that last year was a re­ally tough year, and it con­trib­uted to dif­fi­cul­ties in in­vest­ment and in­dus­try.

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