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Economy

Many provinces' GDP readings beat national figure during first six months of 2015

1
2015-07-24 09:37Global Times Editor: Li Yan

First-half GDP figures have been announced so far by 22 provincial-level governments, with 21 of them reporting readings higher than the national figure of 7 percent, the Beijing News reported Thursday.

The figures provided by the 22 provinces, municipalities and autonomous regions were all equal to or higher than their first-quarter numbers, indicating a recovering trend in the economy, the report said.

But only 11 of those 22 governments met their 2015 GDP targets in the first half, it added.

North China's Hebei Province reported GDP growth of 6.6 percent in the first half, with its core industries such as steel weighed down by a severe supply glut. But the industrial structure in the province is improving, with the services sector contributing an increasing proportion of economic activity, the report said.

Further, boosted by the central government's policy of coordinated development for the Beijing-Tianjin-Hebei area, Hebei is expected to record faster growth in the near future, the report said, citing Li Chang'an, an associate professor at the Beijing-based University of International Business and Economics.

Southwest China's Chong-qing Municipality and Guizhou Province reported double-digit GDP growth in the first half, with figures of 11 percent and 10.7 percent, respectively.

The secondary and tertiary industries contributed much to Chongqing's growth.

Chongqing also benefited from the country's initiative to develop the Yangtze River Economic Belt, said the report, citing experts.

  

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