According to the interim report cards of economic operation published by various provinces, cities and districts in China, in the first half of this year, the GDP growth rate of 21 provinces in China was significantly faster than that of the whole country. It can be said that with the continuous deepening of supply-side structural reform, new kinetic energy has accelerated its growth, and the economic development of various places has shown a development trend of high quality and high quality — —
Recently, 31 provinces across the country have successively announced the interim transcripts of economic operations in the first half of 2017. Among them, Tibet continued to lead with a GDP growth rate of 10.8%, followed by Chongqing and Guizhou. Gansu’s GDP growth rate obviously fell behind in the western sector, and Liaoning’s GDP growth rate continued to rank at the bottom.
The reporter found in combing the transcripts that in the first half of this year, the economic growth rate of most provinces in China was the same as that in the first quarter or rebounded, and the economic operation was generally stable and good. What is even more gratifying is that with the continuous deepening of supply-side structural reforms, new kinetic energy has accelerated its growth, and economic development in various places is not only full of color, but also of high quality. However, it is worth noting that the economic operation in some areas has been obviously divided, and the investment operation in some provinces is weak, and the economic growth momentum is obviously insufficient.
Economic operation is generally stable.
In the first half of this year, China’s GDP growth rate was 6.9%, of which the growth rate in the first and second quarters was 6.9%. Judging from the GDP data released by various provinces, the GDP growth rate of 21 provinces is obviously faster than the national growth rate; The GDP growth rate of Tianjin, Shanghai and Shanxi is equal to the national growth rate; The GDP growth rate of seven provinces, autonomous regions and municipalities including Beijing, Hebei, Inner Mongolia, Jilin, Heilongjiang, Gansu and Liaoning is slower than 6.9%.
In recent years, China’s GDP growth rate has generally shown a pattern of "slow in the east and fast in the west", that is, the GDP growth rate in the western provinces is faster, followed by the central provinces, and the eastern provinces are slower, while the northeast region is facing the heavy responsibility of revitalization.
From the first half of this year, this pattern has not changed in general. Among the 10 provinces in the eastern region, the GDP growth rate is between 6.8% and 8.3%. Compared with the first quarter, the GDP growth rate of Beijing, Tianjin, Fujian and Hainan has slowed down, while the growth rate of Zhejiang, Shandong and Guangdong provinces is flat, while the growth rate of Hebei, Shanghai and Jiangsu provinces has slightly accelerated.
The GDP growth rate of six provinces in the central region is between 6.9% and 9%. Among them, Jiangxi’s growth rate is 9%, which is the same as that in the first quarter, and it is in the leading position among the six central provinces, and the growth rate of the other five provinces is faster than that in the first quarter.
It is noteworthy that after 13 quarters of sluggish performance, Shanxi’s GDP growth rate was 6.9%, which finally caught up with the national pace, and the economic growth gradually entered a reasonable range, showing a development trend from "fatigue" to "prosperity". Previously, Shanxi’s economy once suffered a cliff-like decline, ranking in the bottom position of the country, with an economic growth rate of only 3.1%.
Among the western provinces, the GDP growth rate of 10 provinces is above 7%, which is obviously faster than the national average growth rate; Tibet, Chongqing and Guizhou provinces continued to maintain double-digit growth, ranking the top three in terms of growth rate and leading other provinces in China for several quarters.
Gansu’s GDP growth rate is worrying. In the first quarter of this year, Gansu’s GDP growth rate was 6.1%. Although it was at the bottom in the western region, it was still faster than the three northeastern provinces. From the first half of the year, Gansu’s economic growth rate was only 5%, which was 1.9 percentage points slower than the national growth rate, 1.6 percentage points slower than Inner Mongolia, which is in the penultimate position in the western region, and 5.8 percentage points slower than Tibet, the leader of the western provinces. This performance may mean that Gansu’s economic development is in danger of "taking the lead and falling behind" in the western provinces.
The GDP growth rate of the three northeastern provinces is still slower than the national growth rate. Among them, the GDP growth rate of Heilongjiang and Jilin is 0.2 and 0.6 percentage points faster than that of the first quarter, and Jilin also surpassed Heilongjiang with an increase of 0.6, and the economic growth rate is in the leading position among the three northeastern provinces. Liaoning’s GDP growth rate is only 2.1%, 0.3 percentage points slower than the first quarter, and the growth rate is at the bottom of the country.
Improve quality and increase efficiency steadily.
In the first half of this year, while maintaining a stable economic growth rate, China’s economic structure continued to be optimized, and economic growth improved quality and efficiency steadily.
Combing the economic performance of the provinces in the first half of the year, the provinces adhere to the main line of promoting supply-side structural reform, constantly optimize the economic structure and strive to improve the quality and efficiency of development while maintaining a stable overall economic operation.
In the first half of this year, the growth rate of total consumption in the whole social market was 3.1 percentage points higher than that of fixed assets investment in the whole society, and the dominant position of consumption was more prominent.
The growth rate of 6.8% in Hebei Province in the first half of the year is the highest level since 2014. Tian Yan, deputy inspector and spokesperson of Hebei Provincial Bureau of Statistics, said that the "three to one, one reduction and one supplement" in Hebei Province has achieved remarkable results, of which the reduction in steelmaking capacity was 15.72 million tons and ironmaking capacity was 14.08 million tons. At the same time, the growth rate of added value of high-tech industries is 4.4 percentage points faster than that of industries above designated size, and the proportion of added value of industries above designated size is further increased; Strategic emerging industries have developed rapidly, and the growth rate is faster than that of traditional industries. In terms of new formats, e-commerce, online shopping, express delivery, sharing economy and other fields have developed rapidly.
"The service industry has become the main driving force for Chongqing’s economic growth." Qin Yao, deputy director and spokesperson of Chongqing Municipal Bureau of Statistics, pointed out that in the first half of this year, Chongqing’s economy was in a good state of operation, and the supply-side structural reforms showed results. The new economy gradually grew and new kinetic energy gradually accumulated. The growth rate of tertiary industry in Chongqing is higher than that of primary and secondary industries, which is one of the effects of local economic restructuring and one of the reasons why Chongqing’s economy remains stable and rapid.
Han Zuhai, chief statistician of the Statistics Bureau of Guangxi Zhuang Autonomous Region, said that in the first half of the year, the endogenous driving force of Guangxi’s economic growth continued to be released, the total retail sales of social consumer goods increased by 10.6%, and the sales of products with consumption upgrades were relatively good. The new economy represented by new industries, new formats and new business models continued to maintain rapid growth, and the quality and efficiency of economic operation were significantly improved.
"Whether it is the operation situation, economic structure, the growth of new power, the quality of operation and the improvement of people’s livelihood, it can be seen that Guangxi’s economic operation in the first half of the year was steady and rising, and it laid a more solid foundation for achieving the annual development goals and striving for better results in practical work." Han Zuhai said.
Investment differentiation deserves attention.
In the first half of the year, the national investment in fixed assets (excluding farmers) increased by 8.6% year-on-year, and the growth rate was the same as that from January to May. The investment structure continued to be optimized, the growth rate of manufacturing investment and private investment rebounded, and positive factors in investment operation gradually accumulated.
From the perspective of provinces, while increasing investment in fixed assets, all localities pay more attention to the function of investment to make up for shortcomings. Beijing’s investment in fixed assets pays more attention to social benefits. In the first half of the year, infrastructure investment contributed more than 90% to the city’s investment growth, mainly in transportation, energy, water affairs, greening and other fields.
In the first half of the year, the investment in people’s livelihood projects in Hunan Province increased by 23.1% year-on-year, and the growth rate was 10.7 percentage points faster than the total investment. Among them, investment in education increased by 10.5%; Investment in health and social work increased by 42.6%.
Ningxia’s investment in fixed assets increased by 9.5% in the first half of the year. Among them, investment in short-board areas grew well, with investment in agriculture, forestry, animal husbandry and fishery increasing by 65.4%, investment in transportation, warehousing and postal services by 24.8%, investment in information transmission, software and information technology services by 17.7%, and investment in water conservancy, environment and public facilities management by 1.0 times.
It is noteworthy that in the first half of the year, the investment in various provinces showed obvious differentiation. Among the 31 provinces, the investment growth rate of 19 provinces is faster than that of the whole country. Among them, the growth rate of investment in Xinjiang, Guizhou and Tibet is above 20%, which is in the leading position; The growth rate of investment in 14 provinces such as Yunnan and Guangdong is between 10% and 20%.
Among the 12 provinces whose investment growth rate is slower than the national growth rate, Jilin, Liaoning and Gansu provinces have the lowest investment growth rate. Among them, the growth rates of investment in Liaoning and Gansu were -31.4% and -36.3%, respectively, which were 6.5 and 5.7 percentage points higher than those in the first quarter. The sharp decline in investment in fixed assets has seriously dragged down economic growth, which is an important reason why Gansu and Liaoning rank at the bottom of GDP growth rate.
The investment in fixed assets still plays a key role in macroeconomic growth. At present, the differentiation of investment operation in different provinces, especially the continuous slowdown of investment growth in Liaoning and Gansu, should be highly valued.
Zhao Peiya, inspector of the Investment Department of the National Bureau of Statistics, wrote that at present, China should continue to unswervingly promote supply-side structural reforms and expand reasonable and effective investment; Grasp transformation and promote upgrading, and strive to revitalize the development of the real economy such as manufacturing; Strengthen support and guidance for emerging industries and vigorously cultivate new kinetic energy for development; Effectively implement various policies on private investment and better stimulate the vitality of private investment.
