China’s state planner has said the latest data shows that 24 provinces raced ahead of the national GDP last year. The GDP of 25 provinces was above one trillion yuan each, or $154 billion, in 2015, the National Development and Reform Commission (NDRC) said.
Consumption and industrial profits across local economies in China picked up in the first quarter of this year, the NDRC said on Thursday.
Industrial profits in the southern province of Guangdong and the southwestern metropolis of Chongqing rose more than 20 per cent in the first quarter, fueled by industries including autos and electronics, the NDRC said.
China’s economy stabilized last quarter and gathered pace in March as a surge in new credit spurred a property sector rebound.