Over Half of Chinese Provincial-Level Areas Report Growth Rates Exceeding 5% in First Half of the Year
China's 31 provinces, regions, and municipalities have published their GDP growth figures for the first half of 2024, with 16 of these areas posting year-on-year growth rates exceeding the national average of five percent.
TroibNews 
China's 31 provinces, regions, and municipalities have published their GDP growth figures for the first half of 2024, revealing that 16 of these areas outperformed the national average growth rate of five percent.
Leading the pack in growth was the Inner Mongolia Autonomous Region, which achieved a rate of 6.2 percent. Following closely were Chongqing Municipality and the Xizang Autonomous Region, both of which posted a year-on-year increase of 6.1 percent.
Thirteen provincial-level regions also reported economic outputs exceeding 2 trillion yuan ($280.2 billion) during this period, with Guangdong, Jiangsu, and Shandong at the forefront.
Additionally, efforts for high-level opening up have gained momentum across the country. Notably, the western region of China saw the highest growth rate in foreign trade during the first half of the year, with imports and exports totaling 1.93 trillion yuan, reflecting a 10.2 percent rise from the previous year.
Moreover, trade between Hainan Province and countries participating in the Belt and Road Initiative surged by 40.2 percent year on year.
Economic hubs such as the Beijing-Tianjin-Hebei region, the Yangtze River Delta, and the Guangdong-Hong Kong-Macao Greater Bay Area have been instrumental in propelling national economic growth, collectively accounting for over 40 percent of the country's GDP. These regions have also played a key role in cultivating the development of new quality productive forces.
Sectors including biomedicine, artificial intelligence, new energy vehicles, and electronics manufacturing have shown remarkable growth.
The necessity for nurturing new quality productive forces was further emphasized by the country's top economic planner. In an interview with CMG, Zheng Shanjie, head of the National Development and Reform Commission (NDRC), underscored the critical importance of fully harnessing innovation and aligning industry transformations with local conditions to effectively foster these forces.
Sanya Singh contributed to this report for TROIB News
Leading the pack in growth was the Inner Mongolia Autonomous Region, which achieved a rate of 6.2 percent. Following closely were Chongqing Municipality and the Xizang Autonomous Region, both of which posted a year-on-year increase of 6.1 percent.
Thirteen provincial-level regions also reported economic outputs exceeding 2 trillion yuan ($280.2 billion) during this period, with Guangdong, Jiangsu, and Shandong at the forefront.
Additionally, efforts for high-level opening up have gained momentum across the country. Notably, the western region of China saw the highest growth rate in foreign trade during the first half of the year, with imports and exports totaling 1.93 trillion yuan, reflecting a 10.2 percent rise from the previous year.
Moreover, trade between Hainan Province and countries participating in the Belt and Road Initiative surged by 40.2 percent year on year.
Economic hubs such as the Beijing-Tianjin-Hebei region, the Yangtze River Delta, and the Guangdong-Hong Kong-Macao Greater Bay Area have been instrumental in propelling national economic growth, collectively accounting for over 40 percent of the country's GDP. These regions have also played a key role in cultivating the development of new quality productive forces.
Sectors including biomedicine, artificial intelligence, new energy vehicles, and electronics manufacturing have shown remarkable growth.
The necessity for nurturing new quality productive forces was further emphasized by the country's top economic planner. In an interview with CMG, Zheng Shanjie, head of the National Development and Reform Commission (NDRC), underscored the critical importance of fully harnessing innovation and aligning industry transformations with local conditions to effectively foster these forces.
Sanya Singh contributed to this report for TROIB News
