(Yicai Global) Feb. 18 -- Ningbo and Zhengzhou have entered China's elite club of cities that boast a gross domestic product in excess of CNY1 trillion (USD147.6 billion). The group of 16 urban hubs accounts for close to one-third of the country's total GDP.
Some 28 Chinese cities were home to economic output of more than CNY700 billion last year while those of the top five cities all exceeded CNY2 trillion, according to government data.
Other members of the CNY1 trillion GDP group include Shanghai, Beijing, Tianjin and Chongqing, as well as Guangzhou, Shenzhen, Wuhan, Chengdu, Hangzhou, Nanjing, Qingdao, Changsha, Suzhou and Wuxi.
Among these 16 richest cities, six are located in the most-developed Yangtze River Delta region while Hefei, the capital of Anhui province, was the only major city in the region not to make the list.
The four major urban agglomerations of the Pearl River Delta, Beijing-Tianjin-Hebei, Chengdu-Chongqing and the middle reaches of the Yangtze River all have two cities in the ranking. Only Zhengzhou in central China and Qingdao in eastern Shandong do not belong to the above urban areas.
The developed coastal areas of the east had 11 cities in the ranking, while only three came from the central region and two from the west.
Foshan in southern Guangdong province narrowly missed out on the CNY1 trillion-mark with a GDP of CNY993.6 billion last year.
Other cities that missed out include Xi'an, Jinan, Quanzhou, Dongguan and Nantong, which all boasted economic output in excess of CNY800 billion and could join the club in the future.
Sustained Growth in Richest Cities
China's richest cities continued to grow more prosperous last year. Beijing joined Shanghai in having a GDP of more than CNY3 trillion, far ahead of their peers. Shenzhen, the third-largest, achieved a 7.6 percent rise in total economic output to CNY424.2 billion and its growth rate was the fastest among the top seven cities. Guangzhou remained in fourth, and Chongqing, a western municipality directly under the central government, became a new member of the CNY2 trillion GDP club last year.
Economic growth in Chongqing, as well as sixth-positioned Tianjin, has slowed down in recent years. The two have gradually entered structural adjustment after years of industrial and investment-led economic growth, so expansion has naturally slowed.
Editor: William Clegg