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Chinese Provinces to Promote Economy toward High-quality Development

Pub Date:2019-02-18 08:55 Source:People's Daily Online

Southwest China’s Tibet Autonomous Region aims to achieve a GDP growth rate of around 10 percent, the same as that of last year, in the regional government work report which was recently released, Chinanews.com reported.

The target is based on last year’s economic performance in the region. The government work shows that in 2018, Tibet’s GDP exceeded 140 billion, up 10 percent year on year, ranking the first in the country. The growth rate was the only double-digit figure in the country last year.

31 Chinese provinces have released their GDP forecasts for 2019. This year, more attention has been paid to how to promote high-quality development.

Guangdong, Jiangsu, and Shandong, the three front-runners regarding GDP size 2018 all lowered their growth targets for 2019, from 7 percent to between 6 and 6.5 percent, to above 6.5 percent, and to around 6.5 percent, respectively.

Liaoning said it will work to maintain its economy run in a reasonable range and its GDP grow in line with national growth, without disclosing a specific growth rate.

Fourteen provinces and cities set their growth rates within scopes, including Beijing, Anhui, Fujian, Hubei, Henan, Hunan, Hainan, Shaanxi, Qinghai, Ningxia, Guangdong, Jiangxi, Shanghai, and Jilin.

Xu Hongcai, an economist at the China Center for International Economic Exchanges, said setting ceilings and floors for economic growth is more scientific and flexible, noting that policymakers should guarantee the stability, continuity, and flexibility of macro policies and pay more attention to adjusting economic structure and deepening reform.

Guangdong said in the government work report that it will intensify efforts on the construction of the Guangdong-Hong Kong-Macao Greater Bay Area, build a world-class city cluster and become an important force for high-quality national development.

Liaoning said it will unswervingly push for high-quality development of the manufacturing industry and foster a stronger real economy. Guizhou vowed that it will work for integrative development of big data and plan for the network layout for 5G.

Editor:

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