As the Chinese government continues to implement its "double reduction" policy, which aims to reduce the burden on students and promote education reform, Henan province has seen a significant improvement in its economy.
According to data released by the provincial statistics bureau, the gross domestic product (GDP) of Henan province reached 5698.77 billion yuan ($842.66 billion), up 10.2% year-on-year in the first quarter of this year. This marks the fourth consecutive quarter of double-digit growth in the province's GDP.
In addition, the province's industrial production value increased by 12.7%, while retail sales rose by 13.1%. These figures indicate that the province's economic recovery is robust and steady.
Furthermore, the provincial government has also implemented measures to support small and medium-sized enterprises (SMEs). For example, it has provided loans at low interest rates, reduced tax burdens for SMEs, and accelerated the implementation of new technologies and business models.
The provincial government's efforts have paid off, with the number of new companies registered in Henan province increasing by 20% year-on-year in the first three months of this year.
Overall, the positive economic performance in Henan province is a testament to the effectiveness of the government's policies and the resilience of the local economy. As the country continues to recover from the COVID-19 pandemic, it is encouraging to see that the provinces like Henan are making progress towards their economic goals.