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Regional Economic Growth in 2018: Speed, Structure and Quality Features (No.17, 2019)
2019-04-09
By Jia Shen, Department of Development Strategy and Regional Economy, DRC
Research Report, No.17, 2019 (Total 5517) 2019-2-21
Abstract: In 2018, China’s regional economic growth slowed down across the board, showing different performance in various regions. For example, the central region showed a strong growth momentum, the eastern region maintained a relatively steady growth, the northeastern region experienced some adjustments, the western region faced a severe economic downward pressure, and significant differences could be found between south and north regions. In terms of industrial sectors, industry was the major sector affecting the growth rate of regional economy. The output of some industrial products in the western region and its share in GDP both declined. On the demand side, regions with low growth faced weak consumption and inadequate investment, while the relatively fast export growth in some regions alleviated the downward pressure on domestic demand. In view of growth quality and benefit index, the overall performance of enterprises in less developed regions remained to be improved, and their innovation development lagged behind that of the developed regions. In the future, we need to further refine and deepen regional strategies, give priority to stable regional economic growth, further deepen supply-side structural reform, promote the opening up of inland regions, and accelerate the construction of regional innovation centers in less developed regions.
Key words: regional economy, coordinated development, high-quality development
