The private investment growth of many provinces has surpassed the GDP growth of these provinces in the first three quarters of this year, with many recording more than the national average growth rate of 8.7 percent. Private economy is driving the economic growth of many provinces, thanks to the preferential policies announced by the central government and local governments.

Based on statistics from provincial statistical bureaus, media reports, and Shanghai-based Wind Information, analysts of the 21st Century Economic Research Institute came up with a study of private investment growth of 12 provinces (cities) in China in the first three quarters of 2018.

Let us take a look.

No 12: Shandong

Private investment growth: 3.2 percent

Added value of private economy: 3,039.9 billion yuan ($438.23 billion)