(Yicai Global) Jan. 16 -- China's 31 provincial-level regions have announced their economic growth goals for this year, with over half targeting more than 5.5 percent, Shanghai Securities News reported, citing local government data.

Hainan province led the pack with a gross domestic product growth target of 9.5 percent, followed by Tibet Autonomous Region with 8 percent, and Jiangxi province and Xinjiang Uygur Autonomous Region with 7 percent.

China’s economy will improve as a whole this year, and national GDP is expected to expand by over 5 percent on last year, said Ming Ming, chief economist at Citic Securities. 

Favorable conditions for the recovery are increasing with the introductions and implementations of policies to optimize the country's Covid-19 prevention and control measures, steady the real estate market, and promote development of the platform economy, according to Liu Shijin, former vice director at the State Council’s development research center.

Anhui, Ningxia Hui Autonomous Region, Hunan, and Hubei set their economic growth targets for this year at about 6.5 percent, with 12 other regions, including Sichuan, Henan, and Yunnan, at around 6 percent. Shanghai's GDP is likely to swell by more than 5.5 percent

Some of the biggest provinces by economic scale, including Zhejiang, Shandong, Guangdong, and Jiangsu, set their annual growth goals at 5 percent. Beijing said its GDP is expected to grow by over 4.5 percent. Tianjin's target was set at 4 percent, the lowest in five years.

Editor: Martin Kadiev