Monday, March 31, 2008

China's 9 provinces see GDP exceed RMB1 trln in 2007

China's eight provinces and Shanghai Municipality witnessed their 2007 GDP value surpassed RMB 1 trillion (US$141 billion), totally accounting for 66% of China's GDP in 2007, according to Xinhua calculations based on the website of the National Bureau of Statistics (NBS).

The country's GDP grew 11.4% year-on-year to RMB 24.67 trillion in 2007, marking the fifth consecutive year that its economy gained a double-digit growth.

Among the nine regions, the northeastern Liaoning and southwestern Sichuan Province broke the RMB 1 trillion mark for the first time, with economic growth of more than 14%. Guangdong Province topped the GDP value, up 14.5% year-on-year to RMB 3.07 trillion, accounting for 12.4% of the national total.

The eastern coastal provinces of Shandong and Jiangsu both reported an annual growth rate of more than 14%, with their GDP valued more than RMB 2.5 trillion. Other provinces in the top nine regions included eastern Zhejiang Province, northern Henan and Hebei Province, and Shanghai.

As related to China's provincial-level economies, Inner Mongolia reported the fastest growth rate of 19% in 2007, followed by Jilin at 16.1%.

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