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A Third of China’s Economy Lagged the Nation in First Quarter
Regions making up a third of China’s economy expanded slower than the national growth rate in the first quarter, underscoring the extent of the damage caused by a worsening Covid outbreak and widening lockdowns. Six provincial-level jurisdictions -- all of which suffered a rise in infections in the January-to-March period -- lagged behind the national gross domestic product growth rate of 4.8%, according to local statistics bureaus. That included Guangdong and Jiangsu provinces, two of the country’s biggest provincial economies, which grew 3.3% and 4.6%, respectively. In Guangdong, the technology hub Shenzhen was ... (full story)