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.

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Feb 06 - Central and Western Regions Witnessed Faster Economic Growth Compared with Eastern Regions in 2011

Source: Beijing Morning Post, ChinaScope Financial (Data)

+       Most Chinese provinces have reported their regional GDP for the year 2011. GDP growth rate was 13.8% in Hubei, 16.4% in Chongqing, 9% in Zhejiang and 10% in Guangdong. The figures show that economic growth in central and western regions was remarkably faster than in the eastern regions.

+       Furthermore, central and western regions also witnessed a faster per capita GDP growth in 2011. For example, per capita GDP growth in Inner Mongolia has surpassed that of Guangdong, and is close to that of Zhejiang and Jiangsu.

+       Related Data: Provincial GDP Growth 2011

Growth of western provinces exceeds that of the Eastern. Beijing, Shanghai and Zhejiang grew

slower than the national average.

Other News Headlines:

n China to Form an Institution to Manage Pension Fund Investment

n Central and Western Regions Witnessed Faster Economic Growth Compared with Eastern

Regions in 2011

n Total Assets of Insurance Companies Exceeded CNY 6 Trillion in 2011

n CEC: Power Supply Predicted Tight for 2012

n Private Investment Surpassed CNY 1 Trillion in Guangdong


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