Shop spaces for rent at Yixing Gold Street, a commercial street in Yixing city in eastern Jiangsu province. Photo: Simon Song

China’s wealth gap widens as more than half of its provinces missed growth targets last year

  • Seventeen of 31 failed to meet their gross domestic product growth rate goals in a year where the national economy expanded its slowest pace in 28 years
  • Former growth drivers Chongqing and Guangdong have fallen behind their targets
Topic |   China economy

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Shop spaces for rent at Yixing Gold Street, a commercial street in Yixing city in eastern Jiangsu province. Photo: Simon Song
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Guangdong missed its 2018 7-per cent growth target, expanding by 6.8 per cent. Photo: AFP

Guangdong’s growth slump is seen as a turning point for China’s economy, say analysts

  • Country’s most prosperous province has set lower 2019 growth target that matches expected national target as fast growth fades and trade war clouds outlook
  • Provincial officials have made helping private sector to boost growth a priority
Topic |   China economy

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Guangdong missed its 2018 7-per cent growth target, expanding by 6.8 per cent. Photo: AFP
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