(Yicai) April 26 -- Seventeen of the 29 Chinese provincial-level regions that have released gross domestic product figures for the first quarter of the year reported growth that was the same or faster than the national average of 5.3 percent.

At a 6.5 percent clip, Jilin province was the fastest-growing regional economy in the three months ended March 31, followed by Jiangsu province and the municipality of Chongqing at 6.2 percent. Zhejiang, Sichuan, and Hubei provinces tied for third place at 6.1 percent.

The slowest growing were Guangxi Zhuang Autonomous Region, Hainan province, and Qinghai province, at 3.1 percent, 3.3 percent, and 3.6 percent, respectively.

The GDPs of the top 10 provinces, which included Guangdong, Jiangsu, and Shandong, accounted for nearly 70 percent of the national total.

Nationally, GDP rose 5.3 percent from a year earlier and 1.6 percent from the December quarter to CNY29.6 trillion (USD4.1 trillion), the National Bureau of Statistics announced on April 16. That beat market expectations. “The national economy has got off to a good start and the recovery has achieved a sustained momentum,” NBS Deputy Director Sheng Laiyun said at the time.

The added value of industrial enterprises above a designated size in the top 10 provinces for economic growth expanded faster than their first-quarter GDP, with industrial output becoming a key growth engine for them.

For example, Jiangsu’s industrial added value soared 7.7 percent, outstripping its 6.2 percent GDP growth rate. The numbers for Zhejiang and Sichuan were 8.2 percent and 7.1 percent, up 2.2 percentage points and 1 point, respectively.

Nevertheless, the top 10 provinces faced pressure from the downturn in the property market. Real estate investment in Guangxi plunged 21 percent, crimping its GDP growth. The figure for Sichuan slumped 17 percent, with its home sales by area taking a more than 18 percent tumble.

Some industries in Sichuan, such as ferrous metal smelting, calendering, and processing, as well as the manufacture of computers and communication electronics, also came under downward pressure, said Zeng Junlin, deputy director of the province's statistics bureau. 

Zeng suggested that the authorities should bolster the property market, cultivate new economic growth points, such as new energy vehicles, the intelligent computing industry, and low-altitude economy, assist the synchronised recovery of businesses, and expand effective demand.

Editor: Futura Costaglione