Chart of the Day: Chinese Regions Remain at Risk of Missing Growth Targets
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Most of the 31 provincial-level governments on the Chinese mainland lagged behind their annual GDP growth targets in the first nine months of the year, although just over half beat the country’s overall expansion rate of 4.8%, Caixin calculations based on government data show.
The island province of Hainan in southern China registered the largest shortfall, with growth of just 3.2%, less than half of its annual goal of 8%. The 4.8-percentage-point gap was the biggest among the provincial-level regions, with Heilongjiang and Shanxi, the second-worst performers, missing their full-year targets by 3.2 percentage points.
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- Many Chinese provincial-level regions fell short of their GDP growth targets for the first nine months, with Hainan missing its annual goal by the largest margin, achieving only 3.2% growth against an 8% target.
- Jiangsu outperformed others by exceeding its annual GDP target, while Tibet, Gansu, and Chongqing achieved growth around 6%, surpassing the national pace.
- Growth in regions like Guangdong slowed due to structural adjustments, while Inner Mongolia’s economy thrived on new-energy industry expansion and infrastructure investments.
- 2024-10-22：
- Wu Dan, head of the industrial department of Chongqing's statistics bureau, provided an explanation regarding the industrial production in Chongqing and its growth drivers.
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