China’s regional economies echo national slowdown in face of ‘grim, complex’ outlook, coronavirus outbreaks
- All 31 provincial-level jurisdictions followed the national trend after China’s overall economic growth slowed to 4.9 per cent in the third quarter
- A total of 20 of China’s provinces failed to achieve the national average of a 9.8 per cent growth rate in the January-September period
Sporadic coronavirus outbreaks and a “grim and complex” external environment continued to weigh on China’s regional economic growth rates during the first three quarters of the year with almost two thirds falling below the national average.
A total of 20 of China’s 31 provincial-level jurisdictions failed to achieve the national average of a 9.8 per cent growth rate in the January-September period. This is the same ratio as seen in the first half of 2021, but double the level seen at the end of last year.
The autonomous region of Tibet was the last to confirm its growth figure on Monday, with its economy growing by 7.2 per cent from a year ago in the first three quarters of 2021, adding to the list of provinces to fall below the national average.
The economic growth rate of most provinces has not returned to the pre-pandemic level … the re-emerged [coronavirus] outbreaks this year have caused a certain impact