(Yicai Global) Nov. 3 -- The gross domestic product growth of 18 Chinese provinces has exceeded the 3.0% national economy growth in the first three quarters. 

Shanxi province reported a 5.3 percent GDP growth in the nine months ended Sept. 30 from a year earlier, ranking first among China’s 31 provincial-level regions, according to the data they released yesterday. Fujian ranked second with 5.2 percent, followed by Jiangxi and Inner Mongolia Autonomous Region with 5 percent each. 

Shanxi’s GDP performance was mainly driven by its industry, especially coal and electricity. Fujian experienced a rapid increase in fixed asset investments, mostly in manufacturing and infrastructure, while Inner Mongolia’s growth was largely thanks to the mining sector.

Guangdong, Jiangsu, and Shandong ranked top three by economic volume growth, achieving an annual increase of 2.3 percent, 2.3 percent, and 4 percent to CNY9.2 trillion (USD1.26 trillion), CNY8.9 trillion, and CNY6.4 trillion, respectively. Henan, Sichuan, and Fujian completed the top six. More than 40 percent of the country’s total economic output, market entities, and employment came from these provinces.

China’s economy overcame the effects of multiple unexpected hurdles in the first three quarters, managing to stabilize key indicators, according to the National Bureau of Statistics. But in the case of a more complex and severe external environment, the government needs to coordinate the prevention and control of the epidemic and economic development.

China’s GDP climbed 3 percent to CNY87 trillion (USD11.9 trillion) in the first nine months, while it expanded 3.9 percent in the three months ended Sept. 30, according to data released by the National Bureau of Statistics on October 24.

Editor: Martin Kadiev