Shanghai Tops GDP Leaderboard of Chinese Cities; Yangtze River Delta Is Most Prosperous Region
Lin Xiaozhao
DATE:  Aug 02 2021
/ SOURCE:  Yicai
Shanghai Tops GDP Leaderboard of Chinese Cities; Yangtze River Delta Is Most Prosperous Region Shanghai Tops GDP Leaderboard of Chinese Cities; Yangtze River Delta Is Most Prosperous Region

(Yicai Global) Aug. 2 -- Shanghai led China’s major cities for gross domestic product in the first half of this year, followed by Beijing, Shenzhen and Guangzhou, according to official data interpreted by Yicai Global.

Shanghai’s GDP reached CNY2 trillion (USD311.1 billion) in the six months ended June 30, while Beijing’s was CNY1.92 trillion. Shenzhen and Guangzhou logged CNY1.4 trillion and CNY1.3 trillion, respectively. The cities of Chongqing, Suzhou, Chengdu, Hangzhou, Wuhan and Nanjing made up the rest of the top 10.

Four of the 10 are located in China’s eastern Yangtze River Delta region, making it the most heavily represented area. Southern and southwestern China had two cities each, while northern and central China had just one per region. No cities in the northwestern and northeastern regions made it into the top 10.

Nanjing, Suzhou and Hangzhou, which are each in the Yangtze River Delta region, also recorded the fastest two-year average economic growth at 7.3 percent, 7.2 percent and 7 percent, respectively.

The Yangtze River Delta region has actively promoted economic integration in recent years, Ding Changfa, associate professor at the Department of Economics of Xiamen University, told Yicai Global. The division of labor and collaboration among cities has increased and infrastructure has been improved, prompting capital, tech and talent to cluster in the region, leading to big economic development, he added.

The region also has more higher education resources and a higher concentration of talent, giving its cities a clear competitive advantage in terms of new economy development and emerging industries, Ding noted.

According to Peng Peng, executive president of the Guangdong Institutional Reform Research Association, science and technology is becoming the key to urban economic development. The integration of traditional manufacturing and the new economy, and the concentration of tech innovation firms in the Yangtze River Delta have sped up the region’s transformation and upgrade, he said.

Editors: Tang Shihua, Futura Costaglione

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Keywords:   Top 10 Cities,GDP,Regional Economy