Investing.com -- Fifteen provinces in China have revised their GDP growth targets for 2025, with most setting their aim between 5% and 6%. Qinghai province is the only one with a growth target below 5%.
Among the economically strong provinces, Sichuan has reduced its target, while Zhejiang, Jiangsu, and Shandong have maintained theirs.
Tibet has set the highest growth target of all provinces, aiming for above 7%, specifically 8%. Hainan, despite muted growth in 2024, continues to set its 2025 target at above 6%. Provinces such as Chongqing, Inner Mongolia, Hubei, and Xinjiang have set their targets around 6%.
Nine provinces, including Anhui, Sichuan, Zhejiang, and Henan, have set their targets at 5.5% or above. Fujian has lowered its target from approximately 5.5% to a range of 5-5.5%. Fourteen provinces, including Shandong, Jiangsu, Beijing, and Shanghai, have set their targets at 5% or above. Among these, only Tianjin has raised its 2025 target from the previous year, up from 4.5% to 5%.
In other news, housing rents in China have hit new lows in recent years. The China Index Academy reported that the average rent in tier-1 to tier-3 cities was RMB 75.37, RMB 28.31, and RMB 24.58 per square meter, respectively, in December 2024.
These figures represent the lowest levels since September 2021. Compared to September 2021 levels, rents have declined 7.15%, 9.79%, and 8.9% in tier-1 to tier-3 cities, respectively.
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