Shandong’s gross domestic product growth accelerated to 6.4 per cent last year from 5.7 per cent in 2017, but slipped back to 5.5 per cent in the first quarter of 2019. Photo: AP

China prepares to axe inefficient industry in manufacturing heartland, despite slowing economy

  • Growth in Shandong, China’s third largest provincial economy, slowed in the first quarter due to cuts in inefficient industrial capacity
  • Shandong government aims to cut capacity in traditional sectors to boost ‘new’ industries, as well as reduce pollution
Topic |   China economy

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Shandong’s gross domestic product growth accelerated to 6.4 per cent last year from 5.7 per cent in 2017, but slipped back to 5.5 per cent in the first quarter of 2019. Photo: AP
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