In the first half of 2024, China’s economic momentum remained robust as 16 out of its 31 provinces, regions, and municipalities reported year-on-year GDP growth rates exceeding 5%, surpassing the national average of five percent.
The Inner Mongolia Autonomous Region emerged as the frontrunner, posting a remarkable 6.2% growth rate. This significant increase highlights Inner Mongolia’s expanding industries and its vital role in China’s economic landscape.
Close on its heels were Chongqing Municipality and the Xizang Autonomous Region, each achieving a 6.1% growth rate year on year. These regions have demonstrated strong economic resilience and diversification, contributing to the overall stability and growth of the national economy.
The impressive performances of these provincial-level regions underscore the dynamic and uneven development within China, offering insights into regional strengths and the effectiveness of localized economic policies. Businesses and investors are closely watching these trends for opportunities in emerging markets across the country.
Reference(s):
Half Chinese provincial-level regions see growth rates above 5% in H1
cgtn.com
