In the first nine months, just 11 out of 31 provincial-level regions on the Chinese mainland saw their year-on-year GDP growth outperform that of the first half, data from local authorities showed, as the world’s second-largest economy struggles to build momentum for its post-pandemic recovery, reports Caixin. The Tibet Autonomous Region and island province Hainan logged year-on-year growth of 9.8% and 9.5%, respectively, in the first three quarters of 2023, marking the fastest economic expansion among all provincial-level regions, official statistics showed.
They were also among the 17 regions whose GDP growth in the January-to-September period surpassed that of the country as a whole, according to Caixin calculations.
China’s GDP grew 5.2% year-on-year in the first three quarters, with third-quarter growth of 4.9% beating market expectations amid better consumption and stable industrial production.