西南区域三季报公布，川渝领跑

Core Insights - The economic growth of the four southwestern provinces (Yunnan, Guizhou, Sichuan, and Chongqing) has significantly declined in recent years, with their GDP growth rates falling below the national average [1][2][3][4] Economic Performance - In the first three quarters of this year, the GDP figures for the four provinces were as follows: Yunnan at 23,518.47 billion, Guizhou at 17,352.04 billion, Sichuan at 49,322.2 billion, and Chongqing at 24,449.36 billion, with respective year-on-year growth rates of 4.3%, 4.9%, 5.5%, and 5.3% [1][2] - Guizhou's GDP growth has dropped below the national average, with a forecasted growth of 5.3% for 2024, which is only 0.3 percentage points higher than the national average [2][4] - Yunnan's growth has also declined, with a forecast of only 3.3% for 2024, placing it at the bottom of the national growth rankings [2][3] Investment Trends - Investment growth has been a significant factor in the economic slowdown of the southwestern provinces, with a notable decline in fixed asset investment [4][5] - Historical data shows that Guizhou's fixed asset investment growth has decreased from 28.0% in 2013 to negative growth in recent years, indicating a shift from being a leader to one of the provinces with negative growth [4] - Yunnan's fixed asset investment has also suffered, with declines of 10.6% and 7.7% in 2022 and 2023, respectively, largely due to a downturn in real estate development investment [4][5] Sector Performance - The traditional pillar industries in the region, such as alcohol, coal, electricity, and tobacco, are facing challenges, particularly in Guizhou, where the liquor industry is undergoing significant adjustments [5] - In the first three quarters, Guizhou's coal mining and washing industry grew by 8.0%, while the electricity and heat production sector grew by 4.1% [5] - Yunnan's traditional industries are also experiencing low growth rates, with the tobacco industry increasing by only 1.0% and the electricity sector by 1.8%, although the non-ferrous metals industry saw a significant increase of 14.6% [5]