(Yicai Global) July 28 -- Chongqing, a major city in southwestern Sichuan province, has beaten the economic powerhouse of Guangzhou to fourth place for the first time as first half gross domestic product results are released across the country.

Guangzhou, one of China’s four first-tier cities along with Shanghai, Beijing and Shenzhen, had GDP worth CNY1.1 trillion (USD157 billion) in the first six months of the year while Chongqing’s came to CNY1.12 trillion, according to the two cities’ statistics administrations.

The new ranking reflects how inland economies are faring better than coastal ones that rely more on international trade and as a result have been hit harder by the global spread of Covid-19.

The pandemic has had a greater impact on Guangzhou because much of its economy is export-oriented and reliant on the US and European markets, Yi Xiaoguang, head of Chongqing’s Institute of Comprehensive Economic Research, told Yicai Global. It is being held back by influences from both industrial supply chains and the consumer market in overseas regions, he added.

In the short-term Chongqing’s out-performance of Guangzhou in terms of GDP is meaningless as this is all about restorative growth, Yi said. Chongqing was able to facilitate investment projects, promote exports and industrial energy levels and structures, which led to growth in the high-tech, manufacturing, financial and logistics sectors. Its car manufacturing industry has also done well, with medium-and high-end vehicle models driving recovery in this sector, he added.

Nearby Chengdu, the capital of Sichuan province, is also fast catching up with Suzhou in eastern Jiangsu province which is part of the Yangtze River Delta Region, one of China’s most economically developed and densely populated areas.

Last year, Suzhou’s GDP topped Chengdu’s by more than CNY220 billion (USD31.4 billion). However, in the first quarter, Chengdu overtook Suzhou by CNY10 billion. From January to June, Suzhou remained in the lead with a GDP of CNY905 billion (USD129 billion) compared with Chengdu’s CNY829.9 billion, but the gap is closing.

China’s inland central and western regions helped drive economic recovery in the first half. Chengdu’s imports and exports were up 23.5 percent year on year in the first half to a value of CNY323.1 billion (USD46 billion). Imports grew by 25.5 percent and exports by 21.9 percent.

In another upset, Nanjing, capital of Jiangsu province, elbowed Tianjin out of the top 10 for the first time, with a GDP of CNY661.2 billion, compared with Tianjin’s CNY630.9 billion, a year on year fall of 3.9 percent.

Wuhan, the city in central Hubei province where the pandemic first broke out, fared the worst. Its GDP slumped by 19.5 percent year on year in the first six months of the year.

Editor: Kim Taylor