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China rust-belt province sees fastest GDP growth in 4 yrs

Updated: Jan 24,2018 10:12 AM     Xinhua

HARBIN — Heilongjiang, a province in China’s northeast rust belt, reported its fastest economic growth in four years in 2017.

The gross domestic product in Heilongjiang, one of three provinces in the Northeast traditional industrial zone, grew 6.4 percent to 1.62 trillion yuan ($250 billion) last year, the provincial statistics bureau said on Jan 23.

The growth rate was 0.3 percentage points higher than a year ago, it said.

The province has been under huge downward pressure from its traditional coal, grain, oil and timber industries. It has invested heavily in the strategic new industries to explore new growth drivers.

In 2017, the investment in the strategic new industries totaled 421 billion yuan, up 10.4 percent.

Jilin and Liaoning, the other two provinces in the northeast region, are yet to release growth figures for 2017.

Jilin and Liaoning also posted signs of economic recovery in the first three quarters of last year.