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GDP growth of 28 provinces exceeds that of whole country
2010-04-27 09:05:52Source:Global TimesAuthor:
By the end of April 25, 29 provinces, autonomous region and cities except for Shanghai and Tibet released their gross domestic product (GDP) results in the first quarter, where 28 provinces saw their GDP growth exceed the country's 11.9 percent growth.
Also, 18 provinces saw their growth surpass 15 percent. The only province that reported a lower than the whole country's GDP growth was Xinjiang Uyghur Autonomous Region. Its growth was reported at 11 percent.
Meanwhile, boosted by the central government's favorable policies that aim to build Hainan Island into an international tourism island, that province's GDP saw a growth of 25.1 percent, topping the entire country.
Shanxi Province, which was the only province that saw negative growth in the first half of last year, jumped into second place with 19.4 percent.
Following close behind with 19.3 percent was Chongqing, seeing its biggest growth since it became a municipality, and the Heilongjiang Province also saw record high growth at 12.8 percent.
However, some analysts believe that the high figures were "inflated".
"The phenomenon where the provinces' GDP growth is higher than the country's has become very conventional," said Zhou Qingjie, director of the Center for Industrial Economics of Beijing Technology and Business University (BTBU).
"The matter that the figures are inflated need to be solved urgently," he added. Zhou also believes that the "inflated" figures prove that the current system for calculating GDP growth needs further improvement.
Ye Qing, vice governor of the Hubei Provincial Bureau of Statistics, said that the gap between the provincial numbers and the nation's numbers may be because some provinces calculate some figures are repeated, while some local governments may fabricate figures to enlarge their achievements.
But State Council researcher Zhang Liqun said that the growth at the provincial level is so high because the benchmark last year was too low, and the high growth does not mean the Chinese economy is too overheated.
Data also showed that the recovery trend in the first quarter is strong, and the demand is strengthening, while the overall situation where the country's economy is driven by the investment will not change.
In addition, figures from the Ministry of Finance showed that land transfer income makes up a large part of the GDP in many provinces. The Chinese government has stepped its efforts to curb the property market in recent months.
Also, 18 provinces saw their growth surpass 15 percent. The only province that reported a lower than the whole country's GDP growth was Xinjiang Uyghur Autonomous Region. Its growth was reported at 11 percent.
Meanwhile, boosted by the central government's favorable policies that aim to build Hainan Island into an international tourism island, that province's GDP saw a growth of 25.1 percent, topping the entire country.
Shanxi Province, which was the only province that saw negative growth in the first half of last year, jumped into second place with 19.4 percent.
Following close behind with 19.3 percent was Chongqing, seeing its biggest growth since it became a municipality, and the Heilongjiang Province also saw record high growth at 12.8 percent.
However, some analysts believe that the high figures were "inflated".
"The phenomenon where the provinces' GDP growth is higher than the country's has become very conventional," said Zhou Qingjie, director of the Center for Industrial Economics of Beijing Technology and Business University (BTBU).
"The matter that the figures are inflated need to be solved urgently," he added. Zhou also believes that the "inflated" figures prove that the current system for calculating GDP growth needs further improvement.
Ye Qing, vice governor of the Hubei Provincial Bureau of Statistics, said that the gap between the provincial numbers and the nation's numbers may be because some provinces calculate some figures are repeated, while some local governments may fabricate figures to enlarge their achievements.
But State Council researcher Zhang Liqun said that the growth at the provincial level is so high because the benchmark last year was too low, and the high growth does not mean the Chinese economy is too overheated.
Data also showed that the recovery trend in the first quarter is strong, and the demand is strengthening, while the overall situation where the country's economy is driven by the investment will not change.
In addition, figures from the Ministry of Finance showed that land transfer income makes up a large part of the GDP in many provinces. The Chinese government has stepped its efforts to curb the property market in recent months.
