Many provinces are ahead of schedule, and the ranking of the "top six" has changed

The country is a through train

2024-04-26 12:41Published on the official account of Shandong China News Service's "Country is Through Train".

Text/Wang Enbo

After the national GDP growth rate in the first quarter exceeded expectations by 5.3%, various provinces also intensively released economic report cards.

China News Service found that among the 29 provinces that have disclosed their first-quarter data, 16 have outperformed the country's GDP growth. Among them, the growth rate of many provinces in the first quarter exceeded the expected target for the whole year, and some even achieved "skipping" growth.

The leader in growth belongs to the Northeast

In the first quarter, the country's total GDP was about 29.6 trillion yuan, a year-on-year increase of 5.3% at constant prices. This growth rate is higher than the previous market expectation, and also exceeds the annual target growth rate of "about 5%".

At the local level, as of noon on the 26th, except for Shanxi and Heilongjiang, the remaining 29 provinces have announced the economic data at the beginning of this year, and the growth rate leader belongs to the northeast region.

In the first quarter, Jilin's GDP grew by 6.5% year-on-year, ahead of Jiangsu and Chongqing (6.2%), which are tied for second place. Zhejiang, Sichuan and Hubei all increased by 6.1% year-on-year, followed closely behind. In the first quarter, the year-on-year growth rate reached "6" in Shandong and Beijing, both of which were 6.0%.

It is worth mentioning that Jilin's GDP growth rate has continued to be higher than that of the whole country since the first quarter of last year, and the lead in the first quarter of this year has expanded by 0.1 percentage points compared with the whole of last year. Among them, the secondary industry has made great contributions, with the added value in the first quarter increasing by 9.5% year-on-year, 3.5 percentage points higher than the national growth rate.

In addition, the GDP growth rate of Inner Mongolia (5.9%), Gansu (5.9%), Fujian (5.8%), Ningxia (5.8%), Hebei (5.6%), Xinjiang (5.6%), Guizhou (5.5%) and Liaoning (5.4%) in the first quarter was also higher than the national level.

From a long-term perspective, the economic growth of many provinces is ahead of schedule, and the GDP growth rate in the first quarter has exceeded the annual growth target. For example, Zhejiang, Beijing, Jiangsu, and Shandong have all set their annual growth targets at the "5 range" this year, but their actual GDP growth rates in the first quarter all jumped to "6".

Tianjin has also achieved "skipping" growth. Tianjin's GDP growth in 2023 is 4.3%, 0.9 percentage points lower than the national level, and the expected target for this year is also relatively "low-key" at 4.5%, making it the only province in the country to be below 5%. However, its GDP growth rate in the first quarter reached 5.3% year-on-year, which was the same as the national growth rate.

However, there are also some provinces that are temporarily behind schedule. For example, Hainan and Tibet, both of which are aiming at "about 8%" for the whole year, have GDP growth of 3.3% and 5.1% year-on-year in the first quarter, respectively, and still needs to make great efforts for the rest of this year.

There are new trends in major economic provinces

The central authorities have stressed on more than one occasion that major economic provinces should really take the lead and make greater contributions to stabilizing the national economy. The radiation effect of large economic provinces on regional and even national development is also reflected in the data of the first quarter.

In the first quarter, the top six provinces in terms of GDP were Guangdong, Jiangsu, Shandong, Zhejiang, Henan, and Sichuan. Compared with the number of seats at the end of last year, Henan surpassed Sichuan and returned to the fifth place in the country.

Among them, Guangdong and Jiangsu provinces took the lead in advancing into the "3 trillion club", Shandong and Zhejiang successfully broke through the 2 trillion mark, and Henan and Sichuan both reached more than 1.4 trillion yuan. These six major economic provinces accounted for about 45% of the country's total economic output in the first quarter, and their role as "pillars" is obvious.

The fundamental driving force for such a report card in a major economic province is reform and opening up. Judging from the performance of the first quarter, its growth momentum also comes from this.

The first is the new momentum brought by the innovation of development ideas.

Combing the data, it can be found that the steady growth of several major economic provinces has benefited from the accelerated formation of new quality productivity.

Henan, which has leading enterprises in the industry such as BYD and Yutong Bus, increased by 52.6% year-on-year in the first quarter. What is particularly eye-catching is that the output of new energy vehicles and charging piles increased by 51.1% and 36.5% respectively, and the retail sales of new energy vehicles above designated size increased by 25.9%, which can be described as a boom in production and sales.

Shandong, Sichuan, etc., which are also important industrial provinces, are also accelerating the layout of new industries and new tracks.

In the first quarter, new products such as service robots, lithium electronic batteries for automobiles, and integrated circuits maintained double-digit growth. In the same period, the growth rate of investment in Sichuan's pharmaceutical manufacturing, aviation and spacecraft equipment manufacturing industries exceeded 20%.

Second, foreign trade will pick up under the continuous expansion of opening up.

The major economic provinces are also the major foreign trade provinces, and they collectively achieved breakthroughs in the first quarter. At present, the international market is still relatively sluggish, which is not easy.

In the first quarter, Guangdong's total import and export volume reached 2.04 trillion yuan, a record high in the same period in history, ranking first in the country; Zhejiang's import, export, and import scale all reached a record high in the same period in history, and the growth rate was the highest in the past six quarters; Jiangsu's total import and export value reached 1.3 trillion yuan, also setting a record high in the province's foreign trade scale in the first quarter.

In the bright start of foreign trade, there is one point that is particularly noteworthy - private enterprises are particularly "eye-catching".

In the first quarter, the import and export of private enterprises in Guangdong, mainly "small, medium and micro", was 1.28 trillion yuan, a year-on-year increase of 19.2%, accounting for 62.9% of the province's total foreign trade import and export value. Zhejiang, which is also a major province with a private economy, accounted for more than eighty percent of the province's foreign trade in the first quarter. The year-on-year growth rate of import and export of private enterprises in Jiangsu also reached a considerable 20.7% in the first quarter, driving the province's import and export growth rate by 8.6 percentage points.

The General Administration of Customs commented that in the first quarter, the contribution of private enterprises to the development of import and export is increasing, the innovation strength is getting stronger and stronger, and the trading partners are becoming more and more diversified.

Source: The country is a through train

Editor: Zhuge Ruixin

Editor-in-charge: Wei Xi

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