Chongqing has pulled in a growth rate of 11 percent. (Photo : Xinhua News Agency)
The municipality of Chongqing has topped China's GDP list for the first three quarters of this year after posting a growth rate of 11 percent.
Located in Southwest China, Chongqing came first on the roster of 19 provincial level-governments, according to data released on Thursday.
Meanwhile, Guizhou Province, another from the country's southwest region, grabbed the second spot with 10.8 percent growth rate.
The two areas were the only provincial-level governments that were able to garner double-digit GDP growth rates.
Liu Xuezhi, an analyst at the Bank of Communications, stated that the "provinces in western China are growing at a higher rate at present and the trend will continue for the next few years."
Liu cited the industrial shift from China's coast to the west and the surging demand in the infrastructure construction sector as the main fuels of such economic boom.
Another vital factor is Chongqing's emphasis on the real economy, Tian Yuan, the editor-in-chief of the National Development and Reform Commission's Macro China Information Network, stated.
Nonetheless, data from the website of Chongqing's Statistical Information reflected that there is a slowdown in the municipality's foreign trade, posting a year-on-year contraction of 19 percent.
Chongqing, however, has posted exemplary figure in the total investment in fixed assets, topping the list with 1.06 trillion yuan, a 17.3 percent year-on-year increase.
Tian told the Global Times that the "urbanization process and rapid growth in foreign investment in Chongqing have also contributed to the municipality's growth."
Amid this economic feat in Western China, provinces in the region still lag behind the eastern part of the country in terms of GDP per capita. Compared with Beijing's 36,047 yuan, Chongqing only managed to achieve 15,385 yuan.
Beijing posted a GDP growth of 6.7 percent, the least improved rate on the growth list.
Overall, China's economic pace has slowed down to 6.9 percent in the first three quarters, according to official data published on Monday.
