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Inland provinces post faster 1Q GDP growth

03 May 2012

Most provinces reported slower GDP growth YoY in 1Q12. Among the 21 provinces, municipalities and autonomous regions which had posted GDP figures for the quarter by April 24, only three – Guizhou in southwest, Ningxia in northwest and Henan in central China – reported faster GDP growth in 1Q12, recording 15%, 12.2% and 11.3% YoY GDP growth respectively. The majority of local governments posted growth-rate declines of 1-2pp, with Tibet’s GDP growth slumping by 11.7pp to 8.1% YoY. Guangdong and Beijing reported the slowest GDP growth among the 21 areas in 1Q12 (7.2% and 7% respectively), below the country’s 8.1% GDP growth in 1Q12 and the target of 7.5% GDP growth for this year.

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