Photo: iStock
The report suggests that current financial support and tax reduction policies should focus on crowding out ineffective and inefficient investments. Photo: iStock

Eleven out of 20 provinces in China have recorded more than 2 trillion yuan (US$290 billion) in GDP for the first three quarters this year, The Paper reported.

Guangdong province’s GDP has exceeded the 7-trillion-yuan key mark for the first time with a total 7.06 trillion in the first nine months, ranking first among the provinces.

It’s way ahead of Zhejiang province, which came in the second with 3.98 trillion yuan, followed by Henan and Sichuan province, at 3.55 and 3.09 trillion yuan, respectively.

However, Jiangsu and Shandong province, which took second and third places in the same period last year, have not released their latest data yet.

Should they keep their growth momentum, it is possible for them to reclaim their status.

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