(CBN - Global) May 16 -- Shenzhen, China's commerce and innovation hub, will overtake Singapore to have the highest gross domestic product per capita in Asia by 2026, according to a study by the Hong Kong-based One Country Two Systems Research Institute.
Shenzhen's GDP last year was roughly the same as Singapore's at CNY1.75 trillion (USD267.82 billion). This marks an 8.9 percent rise year-on-year for Shenzhen, and just a two percent rise for Singapore.
Shenzhen has a recorded population of around 12 million compared with Singapore's 5.3 million giving Shenzhen a per capita GDP of USD22,000 compared with USD56,300 for Singapore.
The research was conducted by Mr. Fang Zhou, president of the One Country Two Systems Research Institute, and his team.