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Print[Ferro-alloys.com]Several provinces of Southwest China that maintained forefront growth in the recent years announced their economic data of the first three quarters of 2013. Growth rates of Yunnan, guizhou and Sichuan Province declined to different extent while Chongqing Municipality remained at the same level. The factors that used to support high growth of Midwest area would decrease and growth of this area would be medium in future.
According to latest data of the provincial statistical bureau, gross domestic product (GDP) of Sichuan in the first three quarters increased by 10% year-on-year. Chongqing increased by 12.4% while Yunnan increased by 12.1%. The 13th executive meeting of Guizhou Province revealed that its GDP grew by 12.5%.
It was analyzed that pro-growth of 7.5% was accomplished in the third quarter and there was temporarily no political pressure objectively. The third plenary session would focus on reform. Some new reform policies would boost economy while some would shock economy in the short term. Economy growth was likely to slow down in the fourth quarter. Return on investment was falling and industrial investment was slowing down. In the long term, growth of Midwest area of China would not be as high as it used to be.
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