China’s fastest-growing city leads for the 10th straight quarter
Municipality recorded expansion of 10.5 per cent in the first half
Chongqing has continued to lead China’s economic growth, with a double-digit expansion in the first half of the year.
The city, created in 1997 to facilitate building the Three Gorges Dam, recorded growth of 10.5 per cent in the period, the city’s statistics bureau said on Wednesday. It was the highest figure among 25 provinces that have released first-half figures.
The consistent growth has taken place against a backdrop of political chaos in the city, with the dramatic downfall of former leader Bo Xilai in 2012, and the recent dismissal of party boss Sun Zhengcai, who is being investigated for corruption.
Liu Yong, a senior researcher with the Development Research Centre of the State Council, said Chongqing had the advantage of policy support from the central government.
He added that Huang Qifan, who retired as mayor of Chongqing at the end of 2016, did a good job to boost growth by promoting fixed-asset investments and exports.