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Regional Economic Performance under the Impact of COVID-19: Policy Options (No.180, 2020)
2020-09-03
By Jia Shen, Research Department of Development Strategy and Regional Economy, DRC
Research Report, No.180, 2020 (Total 5924) 2020-7-14
Abstract: In the first half of 2020, in spite of the COVID-19 epidemic impact, various regions in China still achieved positive results in epidemic prevention and control as well as in economic and social development. The economic growth in the central and western regions witnessed a fairly quick recovery across the board, export and industrial growth in some places of the eastern region showed a strong resilience, and the industrial growth in northeast China improved month by month. It needs to be noted that regional economic operation faced some challenges such as contracted demand, slow recovery of investment growth, grim environment for business operation, underemployment, great pressure of epidemic prevention and control in some coastal areas, and uneven growth recovery caused by the synergy effect of transformation pressure and the epidemic impact in some inland areas. In order to promote the steady development of national economy in the future, we need to take a proper approach toward the difference of regional development, release the potentials of industrialization and urbanization in the central and western regions based on overall planning, formulate targeted policies to maintain the market demand according to different regional economic structures, and provide greater support to regions seriously affected by the epidemic and with great difficulties in economic recovery.
Keywords: regional economy, economic operation, COVID-19 epidemic
