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Eastern region leads China's Q1 economic development with 5.6 pct GDP growth

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Eastern region leads China's Q1 economic development with 5.6 pct GDP growth

2024-04-28 17:22 Last Updated At:19:47

The eastern region of China took a lead in the country's economic growth during the first quarter of this year, with the regional gross domestic product (GDP) increasing 5.6 percent year on year.

In specific, the GDP growth rate in Jiangsu, Shandong, Zhejiang and Beijing all surpassed 6 percent during that period.

In other parts of China, in the first quarter, the GDP of the western region was 6.33 trillion yuan (about 891 billion U.S. dollars), up 5.2 percent year on year. Meanwhile, both the imports and exports of that region ranked first nationwide.

In the first three months, the GDP of the central region recorded a growth of 4.7 percent to reach 6.31 trillion yuan (about 889 billion U.S. dollars). Moreover, the region experienced rapid development in the upgrading of manufacturing industry.

"Both the two regions (central and western regions) exhibited robust growth momentum in terms of GDP and the development of new growth drivers, especially in the strategic emerging industries. This is of great significance for those regions to enhance their self-sustaining development, and narrow their gap with developed regions," said Zhou Yiren, director of the Institute of Spatial Planning and Regional Economy under the National Development and Reform Commission.

Out of the 31 provincial-level regions in China, 29 have released their economic data of the first quarter. Northeast China's Jilin Province stood out with an impressive GDP growth rate of 6.5 percent, taking the lead in economic performance.

During the first quarter, the combined GDP of the five major coastal provinces -- Guangdong, Jiangsu, Shandong, Zhejiang, and Fujian -- reached 11.7 trillion yuan (about 1.65 trillion U.S. dollars), accounting for nearly 40 percent of the national total.

Eastern region leads China's Q1 economic development with 5.6 pct GDP growth

Eastern region leads China's Q1 economic development with 5.6 pct GDP growth

Beijing's Chaoyang District, one of China's first national-level export bases of human resources services, on Saturday rolled out a package of 20 new measures to help human resources service and trade institutions with their inbound and outbound service operations.

The institutions that have introduced high-quality foreign human resources will be awarded up to 10 million yuan (about 1.4 million U.S. dollars), according to the Beijing Human Resources and Social Security Bureau.

Focusing on six aspects, including strengthening standardization and institutionalization of the export base and guiding human resources service and trade institutions to explore overseas markets, the 20 specific measures aim to present characteristic financial products in the human resources service and trade industry, provide members of the export alliance with services covering corporate credit, small currency foreign exchange collection and cross-border foreign exchange payment, and help enterprises break through financial, foreign exchange, investment and financing bottlenecks, in efforts to promote their international operation capacity.

"The measures are mainly intended to provide services for human resources institutions to go global and meet the needs of local enterprises and enterprises that have operations in overseas markets. For example, we have integrated our lawyering resources to offer legal support. Besides, we've also launched characteristic financial products tailored to the needs of the human resources institutions, so that they can get more convenient financial support," said Bi Zhongwei, director of the Human Resources and Social Security Bureau of Chaoyang District.

Beijing’s Chaoyang District rolls out measures to boost human resources service industry

Beijing’s Chaoyang District rolls out measures to boost human resources service industry

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