GDP Growth in 24 Regions Outpaces National Average in Jan-Sep

Source: Chinanews, ChinaScope Financial (Data)

+       As of October 28, 27 Chinese municipalities and provinces have released their economic data for the first three quarters of 2012. In the January-September period, GDP growths in 24 regions surpassed the national average growth of 7.7 percent year-on-year. In comparison to the national average growth, GDP growth of the Zhejiang province was identical, whereas GDP growths for both Beijing and Shanghai were lower.

+       Tianjin’s GDP grew 13.9 percent year-on-year, the highest among Chinese municipalities and provinces. GDP of Chongqing and Guizhou was up 13.8 percent year-on-year respectively, the second highest among the 27 regions, while that of Shanghai was the lowest at 7.4 percent.

+       In terms of gross economic output, Guangdong’s CNY 4.07 trillion was on the top, followed by Jiangsu’s CNY 3.88 trillion and Shandong’s CNY 3.62 trillion.

GDP growth in China’s central and western regions continued to outpace that of the Eastern provinces in the first three quarters of 2012. While the western regions are increasingly acting as the engine of China’s growth, the high numbers also reflect the substandard quality of provincial data.

If you'd like to receive a daily e-mail update of ChinaScope Daily Dim Sum Newsletter, please contact us:newsletter@chinascopefinancial.com. If you'd like to try out ChinaScope Database, apply for a trial here