China's provincial GDP growth rates show steady recovery, challenges

Despite varying degrees of expansion, analysts noted that the figures underscore economic growth that is increasingly powered by high technology and other emerging digital industries, in addition to foreign trade, even though consumption was still subdued in the third quarter due to sporadic outbreaks of the Delta variant.

Central China's Hubei Province, which was hit hardest by the COVID-19 epidemic, expanded at the fastest pace in the first three quarters, with a pace of 18.7 per cent. South China's Hainan Province and the capital Beijing were in second and third positions, with growth rates of 12.8 per cent and 10.7 per cent respectively.

Other provinces that outperformed the national standard included North China's Shanxi Province, East China's Jiangsu, Anhui and Jiangxi provinces, and Southwest China's Chongqing Municipality, according to a report in Chinese English-language daily.

The economy of Northwest China's Qinghai Province grew the slowest in the first three quarters at just 6.7 per cent. Central China's Henan Province, which was battered by catastrophic heavy rain in September, saw a GDP growth rate of 7.1 per cent during the same period.

In the first nine months, China's economy grew by 9.8 percent to hit a total of 82.31 trillion yuan ($12.8 trillion), according to data released by the National Bureau of Statistics.

In terms of volume, South China's Guangdong Province, known as the country's manufacturing base and export engine, championed with a GDP of 8.8 trillion yuan in the first three quarters. Jiangsu ranked second, with 8 trillion yuan in GDP.

The new outbreaks are expanding fast since October 17, and affected 11 provinces within one week, China's top health authority said recently. As most COVID-19 infections are related to cross-region tourism, there are growing risks of further spread, according to the authority.

Fibre2Fashion News Desk (DS)