China's new observation: stabilizing the economy, why do these six major economic provinces take the lead?
2022-08-19
At the most difficult node of the current economic stabilization, the major economic provinces have been entrusted with important tasks. Major economic provinces have been asked to take the lead for many times. At the forum of principal officials of major economic provincial governments held on August 16, it was required that major economic provinces should take the lead and play a key supporting role in stabilizing the economy. Recently, major economic provinces have been asked to take the lead for many times. At the meeting of the Political Bureau of the CPC Central Committee held on July 28, it was proposed that major economic provinces should bravely take the lead, and provinces with conditions should strive to achieve the expected goals of economic and social development. On July 7, the economic situation forum of the main responsible persons of the governments of the southeast coastal provinces proposed that the five provinces and cities along the southeast coast should continue to play the main role in national development and economic stability, and play the main role in ensuring the national financial resources. In 2022, China's economic growth target is about 5.5%. However, under the impact of exceeding expectations, the economic growth in the first half of the year was 2.5%. In June, the negative growth of major economic indicators in the previous two months was reversed. Although the economy continued to recover its development trend in July, there were still small fluctuations. "The situation must rise but not fall". In the process of stabilizing the economy, as a major economic province, the greater the capacity, the greater the responsibility. Why are these six major economic provinces? The six provinces participating in the meeting on August 16 are Guangdong, Jiangsu, Shandong, Zhejiang, Henan and Sichuan. Why are they? Zhao Xijun, CO Dean of China Capital Market Research Institute of Renmin University of China, told the "China new observation" column of chinanews.com that the six major economic provinces play a very important role in China's economic development, whether it is the economic scale and proportion, employment absorption, or financial contribution. In particular, facing the current internal and external pressure, if we want to stabilize the economy and make the economy perform better in the second half of the year, the major economic provinces have more resources and stronger capabilities to do this. Many figures disclosed at the forum can explain the importance of the six major economic provinces -- the total economic output of the six major economic provinces accounts for 45% of the country, and they are the "pillars" of the country's economic development. Four coastal provinces in the six provinces have contributed more than 60% of the local net contributions to the central finance, and they should complete the task of financial handover. The number of market entities in the six provinces accounted for more than 40% of the country, contributing more than 40% of the employment. The import, export and utilization of foreign capital of the six provinces are close to 60% of that of the whole country. According to the "China new observation" column of chinanews.com, the top six provinces in terms of GDP in 2021 are Guangdong, Jiangsu, Shandong, Zhejiang, Henan and Sichuan. Among them, Guangdong's GDP exceeded 12 trillion yuan, Jiangsu's GDP exceeded 11 trillion yuan, Shandong's GDP exceeded 8 trillion yuan, Zhejiang's GDP exceeded 7 trillion yuan, and Henan and Sichuan's GDP exceeded 5 trillion yuan. From the perspective of fiscal revenue in the first half of 2022, Guangdong ranked first with 673 billion yuan, Zhejiang ranked second with 498.4 billion yuan, Jiangsu ranked third with 463.9 billion yuan, Shandong ranked fourth with 395 billion yuan, Sichuan (247.9 billion yuan) and Henan (236.2 billion yuan) ranked seventh and eighth respectively. Bai Jingming, a researcher of the Chinese Academy of financial Sciences, told the "China new observation" column of chinanews.com that the six major economic provinces are generally two plates, one of which is the four coastal provinces, Guangdong, Jiangsu and Shandong
Edit：Wei Li Bin Responsible editor：Yin Bing
Source：China News
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