TaiShang
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(Yicai Global) Jan. 26 -- China’s remote Tibet Autonomous Region had the fastest economic growth of the country’s 31 provinces and regions last year, followed by mountainous Guizhou province, according to data released to date, as the Covid-19 pandemic held back the developed coastal regions.
Tibet’s gross domestic product climbed 7.8 percent from the year before, more than three times the national average of 2.3 percent, the National Business Daily reported yesterday. So far, 26 provinces have released data for last year.
Guizhou’s GDP rose 4.5 percent, while eastern Anhui and western Gansu provinces, northwestern Ningxia Hui Autonomous Region and the southwestern provincial-level municipality of Chongqing shared third place with 3.9 percent.
Fifteen provinces reported GDP growth higher than the national average, including northeastern Jilin which had previously fallen below average, the report said. Only central Hubei, the province worst hit by the pandemic, reported slower growth.
Guangdong, China’s biggest regional economy, logged the highest GDP at CNY11.08 trillion (USD1.71 trillion) and northeastern Shandong province came second with CNY7.3 trillion. But the rankings are expected to change as the economic hubs of southeastern Jiangsu and Zhejiang have not yet released figures.
Hubei managed GDP of over CNY4 trillion last year, 95 percent of what it was in 2019, ranking sixth nationwide. The province’s exports were up 8.8 percent from a year earlier and it created 750,000 new jobs in urban areas, according to a provincial work report.
Hubei has set itself a growth target of over 10 percent for this year, saying it “will try its best to achieve better results.” All of the 14 provinces that have so far set goals are aiming for 6 percent and above.
Tibet’s gross domestic product climbed 7.8 percent from the year before, more than three times the national average of 2.3 percent, the National Business Daily reported yesterday. So far, 26 provinces have released data for last year.
Guizhou’s GDP rose 4.5 percent, while eastern Anhui and western Gansu provinces, northwestern Ningxia Hui Autonomous Region and the southwestern provincial-level municipality of Chongqing shared third place with 3.9 percent.
Fifteen provinces reported GDP growth higher than the national average, including northeastern Jilin which had previously fallen below average, the report said. Only central Hubei, the province worst hit by the pandemic, reported slower growth.
Guangdong, China’s biggest regional economy, logged the highest GDP at CNY11.08 trillion (USD1.71 trillion) and northeastern Shandong province came second with CNY7.3 trillion. But the rankings are expected to change as the economic hubs of southeastern Jiangsu and Zhejiang have not yet released figures.
Hubei managed GDP of over CNY4 trillion last year, 95 percent of what it was in 2019, ranking sixth nationwide. The province’s exports were up 8.8 percent from a year earlier and it created 750,000 new jobs in urban areas, according to a provincial work report.
Hubei has set itself a growth target of over 10 percent for this year, saying it “will try its best to achieve better results.” All of the 14 provinces that have so far set goals are aiming for 6 percent and above.
Tibet Was China’s Fastest-Growing Regional Economy in 2020
www.yicaiglobal.com
