Chongqing Tops GDP Growth Amongst Chinese Provinces in H1 2017

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A total of 25 out of China’s 31 provinces have released their first half GDP figures, with Chongqing municipality in the country’s mid-west topping the list and Beijing amongst the poorest performers.

According to first half GDP figures released thus far by China’s provincial governments, Chongqing municipality and Guizhou were the only two province-level entities to post double-digit growth this year, with figures of 10.5% and 10.4% respectively.

Data from Chongqing’s statistics department points to GDP of 914.364 billion yuan in the first half of 2017, for growth of 3.9% in primary industries, 10.75 for secondary industries and 10.4% for the tertiary sector.

Industry remains the key driver of growth in the Chongqing economy, which saw growth in its added value of 10.4% in the first half.

Chinese province-level entities at the bottom of the list for first half GDP were Liaoning, Gansu and Beijing, posting growth rates of 2.1%, 5.0% and 6.8% respectively.

Guangdong was at the top of the list in terms of total first half GDP, with output of 4.1957 trillion yuan, following by Jiangsu province with output of 4.0821.2 trillion yuan.

Official data from China’s National Bureau of Statistics points to nationwide year-on-year GDP growth of 6.9% in both quarters of the first half, for total output of 38.149 trillion yuan.

A total of 19 of the 25 province-level entities that have released first half GDP data came in ahead of nationwide growth, with Tianjin, Shanghai, and Shanxi on par, and Beijing, Gansu and Liaoning falling short.

8 provinces saw significant declines in H1 growth compared to first quarter performance, including Yunnan, Fujian, Xinjiang, Tianjin, Beijing, Gansu and Liaoning.

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