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)

An employee works at Shandong Weiqiao Aluminum Electricity Co Ltd, a subsidiary of Weiqiao Pioneering, a top private-owned company in Shandong, on Feb 26, 2018. [Photo/IC]

No 11: Hebei

Private investment growth: 6.1 percent

Added value of private economy: 1,726.9 billion yuan

A worker adjusts machinery at a private-owned rig enterprise in Zhangjiakou, Hebei province, Nov 14, 2018. [Photo/IC]

No 10: Sichuan

Private investment growth: 9.6 percent

Added value of private economy: 17,308 billion yuan

The photo taken on Oct 31, 2018, shows LCA Aviation Museum, the first private-owned aviation museum located in a shopping mall, in Chengdu, Sichuan province. [Photo/IC]

No 9: Guangdong

Private investment growth: 9.8 percent

Added value of private economy: 3,783.7 billion yuan

Consumers experience AI doctor service at the fourth Guangdong International Internet+ Expo in Foshan, Guangdong, Oct 24, 2018. [Photo/IC]