Economics
Chinese Provinces Slash Growth Goals as Slowdown Hits Home
- Two-biggest economies aim at 6-6.5 percent target for 2019
- Far-western Xinjiang cuts goal by 1.5 percentage points
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Chinese provinces are downgrading their targets for economic growth in 2019 as exports and consumption slow, pointing to a lower national goal likely to be agreed in March.
Of the 30 provinces which have released their 2019 growth targets, 23 lowered their goals from those set for 2018, according to local government work reports. Guangdong -- the nation’s manufacturing heartland -- is seeking growth between 6 percent and 6.5 percent, while coastal Jiangsu is aiming for expansion above 6.5 percent, compared with about 7 percent targeted by both for last year. The regions have the two highest gross domestic product totals in the country.