China’s economic recovery is evident in the first half of this year, with provinces like Guangdong and Jiangsu surpassing 6 trillion yuan in GDP for the first time. Jiangsu’s GDP increase of 355.616 billion yuan in the first half of the year was the highest in the country. Additionally, 15 provinces outperformed the national average growth rate, with Shanghai leading the way at 9.7%.
Guangdong remains China’s largest economic province, achieving a GDP of 6,290.98 billion yuan in the first half of the year. Jiangsu closely followed with a GDP of 6,046.53 billion yuan. The gap between the two provinces has narrowed from 260 billion yuan in the previous year to about 240 billion yuan.
Meanwhile, Shandong’s GDP reached 4,412.5 billion yuan, placing it in the “4 trillion” range. Zhejiang and Henan joined the “3 trillion” echelon with GDPs of 3,871.7 billion yuan and 3,132.6 billion yuan, respectively.
The Yangtze River Delta region recorded a total GDP of over 14.3 trillion yuan, accounting for nearly a quarter of the country’s GDP. Shanghai and Hainan stood out with growth rates exceeding 8%, with Shanghai’s 9.7% growth rate being the highest in the country.
In terms of growth rate, 15 provinces surpassed the national level, while 14 provinces fell below it. Besides Shanghai and Hainan, Zhejiang, Jiangsu, and Shandong recorded growth rates exceeding 6%.
The acceleration of Zhejiang’s economic growth mainly came from the service industry, which saw an 8.4% increase in the first half of the year. Jiangsu’s manufacturing industry accounted for 36.3% of its GDP, acting as a stabilizing force for the province’s economy. Shandong experienced a reversal in its investment trend, with a 5.5% increase in fixed asset investment.
However, provinces like Jiangxi, Guangxi, and Hunan had lower growth rates, but Jiangxi’s growth rate in the second quarter showed a significant recovery compared to the first quarter.
Overall, China’s economy shows signs of recovery, with certain provinces leading the way in terms of GDP and growth rates. The performance of provinces in various sectors contributes to the country’s overall economic growth.