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24 out of 26 provinces see increase in GDP growth

24 out of 26 provinces see increase in GDP growth

July 28,2015

Of 26 provinces that have released their latest economic data, 24 posted an increase in GDPgrowth in the second quarter, while stable growth remained a major priority for the latter half ofthe year, reported Shanghai Securities News.

Chongqing municipal and Guizhou province are the only two that reported a double-digit year-on-year growth in the first six months, 11 percent and 10.7 percent respectively.

Anhui and Shandong province saw their latest growth rate in line with the first quarter.

Liaoning province, ranked at the bottom, grew 2.6 percent in the first half of the year. Its full-yeargrowth target was 6 percent.

Beijing and Shanghai municipals reported a 7 percent growth with better-poised economicstructure, said the newspaper, as finance, information and technology services contributed to73.7 percent of the capital's GDP growth.

Economic powerhouse Guangdong province grew 7.7 percent in the first half of the year, up fromfirst quarter's 7.2 percent.

China's GDP expanded 7 percent year-on-year in the second quarter, earlier data from theNational Bureau of Statistics showed, remaining unchanged from its first-quarter.

The nation's economic slowdown is likely to grind to a halt by the end of this year or the first halfof 2016, and the GDP growth rate will stay around 7 percent, according to Xinhua citing LiDaokui, director of Tsinghua University's Center for China in the World Economy, on Thursday.


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