Reuters reported (January 22) that about two-thirds of China’s provinces, regions and municipalities have cut their 2020 growth targets from last year, despite easing trade tensions with the United States. The report adds: "Of China’s provincial-level regions, 22 including Beijing, Guangdong, Zhejiang, Henan, Hainan, and Fujian, set lower growth targets this year compared to last, a similar number to last year. Beijing, Shanghai, and the southern export hub of Guangdong all dropped their targets from 6-6.5% growth to “around 6%” in 2020, in line with the expected change to the national target ... At least 11 provincial-level regions missed their 2019 GDP targets, according to preliminary statistics released by local governments. Targets for 2020 ranged from around 5% growth - for the northeastern province of Heilongjiang and the northern city of Tianjin - to around 9% growth for the Tibet Autonomous Region.”
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