Eight Chinese provinces report GDP growth rates over 5% in Q1
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Loading... - Mark Robinson
- 25 Apr 2023
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Provincial governments in China have recently released their first quarter gross domestic product (GDP) growth data. Eight out of 20 of them saw a year-on-year growth rate of over 5 percent.
Jilin Province led the pack with 8.2 percent economic expansion in the period followed by Ningxia at 7.5 percent and Hainan at 6.8 percent.
China's GDP grew by 4.5 percent year-on-year in the first three months of 2023, data from the National Bureau of Statistics (NBS) showed. The country's economic recovery has laid the foundation for its annual development objectives, according to Fu Linghui, spokesperson of the NBS.
At least 20 provinces, including Guangdong, Shandong, and Zhejiang, have published their first quarter economic data as of Monday. Fourteen of them achieved a higher growth rate than the national average.
The economic output of Guangdong Province, which was just short of 3 trillion yuan ($434 billion) in the first quarter of 2022, has now surpassed that mark. Additionally, Shandong Province has crossed the 2 trillion yuan threshold. Read More…
