Zhongxin Finance, April 28 (Reporter Li Jinlei) Under the impact of the epidemic, what kind of answers did the local economies hand over in the first quarter?

How has the economic map changed?

　　As of April 27, except for Jilin, Xinjiang, and Tibet, the remaining 28 provinces have released GDP data for the first quarter of 2022.

The first quarter GDP data of 28 provinces in 2022.

Drawing by Li Jinlei of China-Singapore Finance and Economics

"Su Daqiang" chases "Guangdong boss"

　　From the perspective of total GDP, the pattern of the top three in Guangdong, Jiangsu and Shandong has not changed.

Guangdong is still the "biggest" in total GDP, with GDP exceeding 2.8 trillion yuan in the first quarter.

　　However, Guangdong's GDP in the first quarter increased by 3.3% year-on-year, which was 1.3 percentage points slower than Jiangsu's 4.6% growth rate. Therefore, "Su Daqiang" narrowed the gap between "Su Daqiang" and "Guangdong boss".

　　The data shows that the gap between Jiangsu's GDP and Guangdong's GDP in the first quarter of 2022 is about 64 billion yuan, while the gap in the first quarter of 2021 is 138.4 billion yuan, which has narrowed a lot.

　　Among the "troika", Jiangsu's foreign trade performance was even more dazzling. In the first quarter, imports and exports increased by 14% year-on-year, while Guangdong's imports and exports in the first quarter increased by only 0.6% year-on-year.

Anhui's GDP surpassed Shanghai's in the first quarter

　　In the first quarter, Anhui's GDP once again surpassed Shanghai's, ranking tenth in the country.

　　Data show that Anhui's GDP reached 1,034.77 billion yuan in the first quarter, a year-on-year increase of 5.2%.

In the first quarter, Shanghai's GDP was 1,001.025 billion yuan, a year-on-year increase of 3.1%.

　　It should be noted that Anhui also surpassed Shanghai in the first quarter of 2021, but the annual GDP was overtaken by Shanghai, and Shanghai’s GDP ranked tenth in the country for the whole year.

　　Affected by the outbreak of the epidemic in March, Shanghai's economy in the first quarter was stable and then slowed down. The growth rate of 3.1% was lower than the national growth rate of 4.8%, ranking third from the bottom of the 28 provinces.

　　For Shanghai, in order to continue to overwhelm Anhui in 2022 and maintain the top ten in the country, it is necessary to control the epidemic as soon as possible and resume work and production.

The GDP growth rate of 21 provinces exceeds the national growth rate

　　In the first quarter, the national GDP increased by 4.8% year-on-year. Among these 28 provinces, 21 provinces saw a higher GDP growth rate in the first quarter than the whole country.

　　The 21 provinces are Jiangxi, Fujian, Hubei, Guizhou, Shanxi, Hunan, Hainan, Inner Mongolia, Heilongjiang, Sichuan, Yunnan, Gansu, Shandong, Anhui, Hebei, Chongqing, Ningxia, Zhejiang, Shaanxi, Qinghai, and Guangxi.

　　In the first quarter, Beijing's GDP increased by 4.8% year-on-year, the same as the national growth rate.

　　In addition, Tianjin's growth rate is temporarily at the bottom of the list.

Tianjin's GDP growth rate in the first quarter was only 0.1%.

At the beginning of this year, Tianjin became the first city in China to face the Omicron variant head-on. The impact of the epidemic on the economy is also reflected in the data. Both investment and consumption experienced negative growth. In the first quarter, investment in fixed assets (excluding farmers) decreased by 4.5% year-on-year. %, the total retail sales of social consumer goods decreased by 3.9% year-on-year.

The picture shows consumers shopping in a shopping mall in Nanchang, Jiangxi Province.

Photo by Liu Zhankun

Jiangxi is eye-catching

　　In the first quarter of the economic map, the central provinces performed prominently, and Jiangxi's performance was even more impressive.

　　According to data released by the Jiangxi Bureau of Statistics, Jiangxi’s GDP in the first quarter was 732.05 billion yuan, a year-on-year increase of 6.9%, leading the 28 provinces that have released data so far.

　　In the interpretation, the Jiangxi Bureau of Statistics revealed the accurate information of Jiangxi's ranking among 31 provinces:

ranking second in the country, achieving a strong start.

This growth rate was 2.1 percentage points higher than the national rate, 1.4 percentage points higher than the previous year.

　　In the past, Jiangxi, which was not visible in the list, was able to achieve the highest economic growth rate in the country in the first quarter of this year?

　　This is mainly because Jiangxi's "troika" of investment, consumption and export performed very well. Among them,

fixed asset investment increased by 15.6%, ranking fifth in the

country, 6.3 percentage points higher than the national level, and 0.4 percentage points higher than the previous year.

The total retail sales of social consumer goods increased by 8.9%, ranking first in the

country, 5.6 percentage points higher than the national total, and 0.4 percentage points higher than the previous year.

The total value of imports and exports increased by 29%, which was 18.3 percentage points higher than that of the whole country and 16 percentage points higher than that of the previous year.

　　In particular, Jiangxi's consumption growth rate ranks first in the country, which is impressive.

Focusing on the promotion of consumption during the New Year's Day and Spring Festival holidays, Jiangxi Province held 1,500 promotional activities of various kinds, and government and enterprises in various regions issued nearly 300 million yuan of coupons for catering and retail, which greatly stimulated the consumption potential and enthusiasm of residents.

　　Jiangxi old watch, not bad!

(Finish)