Date
18 August 2017
Chongqing's economy grew 10.9 percent in the first half, slowing from 14 percent in the same period of 2012. Photo: Bloomberg
Chongqing's economy grew 10.9 percent in the first half, slowing from 14 percent in the same period of 2012. Photo: Bloomberg

Chongqing 1H economic growth fastest in China at 10.9%

Chongqing’s economy grew 10.9 percent in the first half of this year, the fastest expansion among all municipalities and provinces in China, the 21st Century Business Herald reported on Friday, citing data provided by the local government.

Its growth, however, slowed from 14 percent in the first six months of 2012 and 12.4 percent a year earlier.

In fact, most of the major cities and provinces saw economic growth slow in January to June. Guizhou province grew 10.8 percent after a 14 percent increase in the same period of 2012 and 12.5 percent a year earlier. Beijing and Shanghai each grew 7.2 and 7.1 percent in the period, lagging most regions.

All of the 31 municipalities and provinces failed to meet their growth targets set at the beginning of the year. Chongqing and Jiangsu province, however, were the closest to their goals, missing only by 0.1 percentage point.

Central provinces in general saw their rankings move up, while those in the west, which depend more on the mining of coal and other resources, dropped the most. Provinces in the northeast region were still weak, with Heilongjiang at the bottom of the ranking by growing less than 5 percent, the report said.

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