Business / Macro

Local GDP figures suggest strong Q4

By Zheng Yangpeng (China Daily) Updated: 2013-01-26 09:39

Provinces across China delivered stronger economic growth in the final quarter of 2012, according to the latest GDP figures from local governments.

But experts have warned the growth could be halted if local structural issues are not addressed.

Of 18 regions to release their annual GDP figures so far, 16 have beaten the national economic growth level, which slowed to 7.8 percent, the slowest since 1999.

National figures are not necessarily a compilation of local data.

Local GDP figures suggest strong Q4

Tianjin led the nation with 13.8 percent year-on-year GDP growth, while Guangdong province retained its top spot after a 10.2 percent growth to 5.7 trillion yuan - which indicated (exact figures for its Q4 were not individually released) a particularly strong fourth quarter for the southern province as GDP growth in the first three quarters was 7.9 percent.

Guangdong's figures put an end to speculation that its GDP would be surpassed by Jiangsu province, where GDP in 2012 grew 10.1 percent to reach 5.4 trillion yuan ($868 billion).

Lin Jiang, a professor with Lingnan (University) College, a business school of Guangzhou's Sun Yat-sen University, said the upsurge in the fourth quarter was mainly the result of a boost in fixed-asset investment, and an acceleration of export tax rebates paid to exporters during the third and fourth quarters.

China's vast central and western regions also accelerated their growth in the final quarter.

Growth in Shanxi, Hunan, Hubei and Anhui provinces rose 0.1 percentage points higher than in the first three quarters.

In Yunnan province, in western China, Q4 growth was 0.4 percentage points higher.

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