CHINA-ECONOMY: CHINA'S AFFLUENT PROVINCES REPORT SLOWER GROWTH IN THE FIRST THREE QUARTERS OF THE YEAR THAN THE NATIONAL ECONOMY
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Yahoo Finance (November 3) disclosed that some of China's most affluent regions reported
slower growth in the first three quarters of the year than the national economy, as COVID-19
curbs disrupted factory and consumer activity. The economy of Guangdong, the southern
economic powerhouse, and Jiangsu in the east, each grew 2.3%. Sichuan's growth slowed to
1.5% from 2.8% in the first half of 2022. Guangdong and Sichuan were hit hard by virus curbs
in the third quarter, with tech hub Shenzhen and southwestern metropolis Chengdu in Sichuan
slammed by restrictions and lockdowns in September. GDP in tropical southern province
Hainan fell 0.5% for the first three quarters, reversing a 1.6% gain in the first half as the island's
main tourist hub.
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