More regions in China are recovering from the COVID-19 crisis

During the first three quarters of 2020, 26 out of 31 provinces in China reported positive GDP growth rate, up from 16 in the first half of the year, as more regions are recovering from the COVID-19 induced crisis.

Tibet, despite having the smallest GDP nationwide, has maintained a positive growth rate throughout the year. As of September, it reported a GDP growth rate of 6.3% y/y, the highest among the 31 provinces. Hubei, which was in the centre of the COVID-19 outbreak, was the hardest hit. In the first nine months, Hubei’s GDP declined by 10.4% compared to the same time in 2020.

Further data and analysis on China’s economy is available on the CEIC China Economy in a Snapshot – Q4 2020 report.