Economics
Fast-Growing China Provinces Can’t Quit Investment Addiction
- Total investment in five fastest-growing provinces exceeds GDP
- Top performers depend on property, infrastructure investment
An employee operates a Chongqing Rail Transit Group Co. (CRT) train as it arrives at a station in Chongqing, China, on Tuesday, April 12, 2016.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
When it comes to China’s economy, investment is still king.
In the five fastest-growing provinces, total fixed-asset investment exceeded the sum of their gross domestic product in the first three quarters of this year, according to new data from 29 of 31 provincial governments. In Chongqing, Guizhou, Tianjin, Jiangxi and Anhui, combined total investment was 6.56 trillion yuan ($969 billion) versus their combined economic output of 6.37 trillion yuan, the data show.