Date
23 September 2017

Exports, structural change weigh on provincial 1Q growth

Growth slowed in most mainland provinces and municipalities in the first quarter amid structural adjustment and an easing in exports, the Economic Information Daily reported Wednesday, citing local government data.

Central provinces grew fastest year on year, while those in the west had the slowest economic growth, the paper said.

Beijing’s registered a 7.1 percent year-on-year gain in gross domestic product in the first quarter, down 0.8 percentage points from the previous year; Tianjin’s economy grew 10.6 percent in the period, or 1.9 percentage points slower; while GDP growth in Zhejiang and Guangdong also slowed by 1.3 percentage points to 7 percent and 7.2 percent respectively, the report said.

Guangdong’s statistics agency was quoted as saying that falling exports and a weaker property market weighed on growth.

China’s economy is expected to expand nearly 7.4 percent in the second quarter, a rate unchanged from the first quarter, Zhu Baoliang, a senior economist with the State Information Center, was cited as saying.

– Contact HKEJ at [email protected]

KZ/AC/SK

 

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