Thirty-one provinces, autonomous regions and municipalities directly under the central government announced their 2022 GDP growth targets, with nine provinces achieving 7% or higher

2022-05-13 0 By

31 provinces, autonomous regions and municipalities have announced their 2022 GDP growth targets, as Tianjin put forward its 2022 economic growth target on Wednesday.Among them, nine provinces have an economic growth target of 7 percent or more.31 Provincial GDP targets for 2022Wen Bin, chief researcher of China Minsheng Bank, told China Business News that all provinces have clear targets for 2022 economic growth, although many have lowered their targets from last year.But it is generally above 5.5%, and the average is around 6%.Nine provinces have a GDP growth target of 7 percent or above for 2022, CBN noted.Hainan has set a target of about 9 percent, Tibet of about 8 percent, Jiangxi and Anhui of more than 7 percent, Hubei, Guizhou and Yunnan of about 7 percent, and Ningxia and Henan of 7 percent.Buoyant Hainan has set the highest GDP growth target.With the dividends from the construction of a free trade port, Hainan’s main economic indicators in 2021 historically took the lead in the country, with a growth rate of 11.2%, ranking second in the country, and its two-year average growth rate ranking first.Go to Hainan, buy buy buy.Data showed that Hainan’s off-island duty-free sales exceeded 60 billion yuan in 2021 and set a target of 100 billion yuan in 2022.At present, China’s economy is facing the triple pressure of demand contraction, supply shock and weakening expectations, so the word of stability is emphasized in 2022.Compared with 2021 GDP growth, most provinces set economic growth targets for 2022 lower than the actual growth in 2021.However, Tibet, Ningxia and Henan have set a growth target for 2022 higher than the actual growth in 2021, while Hebei’s 2022 growth target remains unchanged.In 2021, Tibet’s economy will grow by 7 percent, but the target for 2022 is around 8 percent.Ningxia’s economy will grow 6.7 percent in 2021, but the target for 2022 is set at 7 percent.Henan, which was hit by floods, saw its economy grow 6.3 percent in 2021, but targeted 7 percent in 2022.The higher target of 7% is part of Henan’s attempt to rebound from the impact of the floods.Henan also pointed out in its government work report that the target “will help guide expectations, boost confidence and pool strength. It is positive and promising, but it will take strenuous efforts to achieve it”.Data diagram.Due to the impact of the epidemic, the two sessions in Tianjin have been postponed to after the Spring Festival. As a result, Tianjin has become the last province to announce its economic growth target for 2022.In its government work report, Tianjin set an economic growth target of more than 5 percent for 2022.Data showed that the GDP of Tianjin in 2021 was 1,569.505 billion yuan, with a year-on-year growth of 6.6%, fulfilling the expected target of 6.5%.Among the 31 provinces, Tianjin and Beijing are the most modest in setting GDP growth targets above 5%.The relevant person in charge of the Beijing municipal development and reform commission (NDRC), the economic growth targets set to more than 5%, the need to give attention to two or morethings and the possible and potential growth phase cohesion, for the epidemic prevention and control, structural adjustment and cope with the uncertainty in the economic operation scope, is beneficial to guide the expected, boost confidence, lead concentrate all aspects to improve the quality of development benefit.Guangdong, Jiangsu and Shandong, the top three economically powerful provinces, saw growth of 8 percent, 8.6 percent and 8.3 percent in 2021, but they all anchored to the 5.5 percent growth target.Guangdong is set at around 5.5 percent, while Jiangsu and Shandong are set at more than 5.5 percent.Luo Zhiheng, chief economist and head of the research institute of Yuekai Securities, said the average growth rate of the three provinces in 2020-2021 was 5.1 percent, 6.1 percent and 5.9 percent, respectively, indicating that the target setting was relatively cautious and left some room.Despite setting specific targets, several provinces, including Hubei, Shanxi and Fujian, said they would strive for better results.”The return of the king” of Hubei in 2021 economic growth of 12.9%, the growth rate rushed to the first in the country.Hubei has set a growth target of around 7 percent for 2022, saying it will strive for better results in practice.With coal demand and price soaring, Shanxi’s GDP growth rate will reach 9.1% in 2021, ranking third in the country.Shanxi’s GDP target for 2022 is around 6.5 percent, and the province says it will strive for better results in practice.Having decided on their goals, China’s economy will strive to get off to a good start in 2022.Source: Chinanews.com