The Trillion Yuan Club: Which Chinese Cities Have the Highest GDPs?

The Trillion Yuan Club: Which Chinese Cities Have the Highest GDPs?
Jan 28, 2016 By eChinacities.com

Editor's Note: One Tuesday evening, Wang Baoan, the head of China's statistics agency, the man that is responsible for assuring the world that the country's economic data is reliable and genuine, was placed under investigation for corruption. What is reliable and genuine is that even though China's economy is slowing down, it's still growing, especially in the eastern first tier cities. 9 of China's biggest cities make up 20.6% of the country's GDP. Last year, that number was rounded up to 10 cities with Hangzhou entering the Trillion Yuan Club. This translated article reports on the newest addition to the group of Chinese cities that earn 1 trillion GDP every year.

On January 24, 2015 Hangzhou’s GDP reached 1 trillion Yuan. The city became the 10th city in China with a GDP of more than a trillion Yuan. In 2015, Shanghai’s GDP was 2.5 trillion Yuan, the highest in China. Beijing is ranked second, with a GDP of 2.3 trillion Yuan.

Hangzhou Joins the Club
In 2015, Hangzhou’s GDP was 1.005358 trillion Yuan. This is an increase of 10.2% from the previous year. Per capita GDP in Hangzhou last year was 112,268 Yuan or about $18,025, an increase of 9.1%. The city has ranked the level of wealthy countries in terms of divisions between rich and poor, according to the World Bank.

Hangzhou achieved new breakthroughs in 2015, with its inclusion in the “trillion Yuan club.” Hangzhou’s economic and overall strength have reached a new level.

The Highest GDP
Shanghai still has the highest GDP in China. In 2015, Shanghai’s GDP reached 2.5 trillion Yuan, up 6.9% from the previous year. Shanghai’s GDP has increased an average of 7.5% over the past five years. 597,000 new jobs were created in Shanghai, and the employment rate was 4.1%. Consumer prices in Shanghai rose 2.4% last year. Shanghai mayor Yang Xiong has proposed a target GDP growth of 6.5% to 7% for 2016.

In 2015, Beijing’s GDP was nearly 2.3 trillion Yuan, an increase of 6.9%. The city’s growth rate was down 0.4% from the previous year.

China’s other nine cities in the trillion Yuan club are: Shanghai, Beijing, Guangzhou, Shenzhen, Tianjin, Chongqing, Suzhou, Wuhan, and Chengdu. These nine cities accounted for 20.6% of the nation’s GDP in 2014.

Almost at 1 Trillion
Nanjing and Qingdao will most likely join the trillion Yuan GDP club in the next year. On January 22, the Nanjing Bureau of Statistics announced that Nanjing’s GDP was 927.08 billion Yuan in 2015. Nanjing mayor Miao Ruilin said that the city’s target growth is 8%.

Qingdao’s GDP reached 940 billion Yuan in 2015. The average annual growth over the past five years was about 10%. Even though economic growth has slowed in the city, reaching 1 trillion should not be a problem.

China’s GDP growth has continued to steadily slow. Despite this, mayor Yang Xiong said that in 2016, Shanghai will invest 3% of its GDP in environmental protection. This will further help reduce pollution in the city.

Source: QQ News

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Keywords: GDP Trillion Hangzhou Hangzhou Trillion Yuan

3 Comments

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qadirjadoon

people look at shanghai in the center....people's square jingan and xujiahui...that's not F*ing shanghai...go through the adjacent areas or small streets...it literally smells like piss.. whats the point of being rich when ou dont care about the environment...the house is cleaned by the maid...and dump the trash on the street...i dont know much about other places but people here have zero sense of responsibility for community or keeping the surrounding clean. and when something bad is pointed...their easy reply is "MLGB waidi ren"...dude your grandparents came from shandong..you are just as much waidi ren as others...to be honest people here are really complexed about themselves..

Jan 29, 2016 15:33 Report Abuse

qadirjadoon

well shanghaiis the highest GDP, but it is insanely stupid to compare HZ to SH. firstly because shanghai is not whatmost foreigners consider china. it was a city developed to be ahead of its time and a financial center. Its like comparing a VW CC to a Bentley continental..secondly if HZ hit a trillion it means it is way ahead of shanghai, mainly because the "per capita" income is higher....shanghai is 6 times more populated than HZ and has 2.5 fold of benefit in GDP, so in general HZ is way ahead in the lead when it comes to per capita average. Lastly trillion or billion, jerks will be jerks, shanghai people might be the biggest jerks on chinese soil. mainly because 80% are not even shanghainese and pretend to be because of the hukuo and are more like the empty bucket which is shiny on the outside but nothing inside.

Jan 29, 2016 15:27 Report Abuse

golf79

+1

Jan 29, 2016 11:11 Report Abuse