Editor’s Note: Shanghai had the highest GDP in China in the first quarter of 2016, but had the slowest growth of any major city in the nation. This translated articles lists the cities with the highest GDP in the first quarter of 2016 in China and examines each city’s economic growth rate.
In the first quarter of 2016, Shanghai had the largest GDP followed by Beijing, Guangzhou, Tianjin, Shenzhen, Chongqing, Suzhou, Chengdu, Wuhan, and Hangzhou.
1) Shanghai: Shanghai’s GDP in the first quarter of 2016 was 622.539 billion RMB. This represents a growth rate of 6.7%. However, Shanghai was ranked 80th in China for growth rate in 2016. When a city’s economic development reaches a certain degree, a major breakthrough in a new economy or industry is necessary to drive economic growth. This did not happen for Shanghai this quarter.
2) Beijing: In second place, Beijing’s GDP was 545.19 billion RMB, marking a growth rate of 6.9%. The capital was ranked 76th in China for economic growth.
3) Guangzhou: Coming in at third, Guangzhou’s GDP was 411.839 billion RMB. The city’s economic growth rate was 8%. This is a slower pace than usual for the Guangdong cities. However, many believe that life in Guangzhou is good right now: prices are getting higher but are still reasonable.
4) Tianjin: Beijing’s neighbor Tianjin’s GDP was 377.273 billion RMB. The northern metropolis had a growth rate of 9.1% and was ranked 21st for economic growth. Many factories have recently opened in Tianjin because of its proximity to Beijing. Beijing is limiting the number of factories in the capital because of pollution and other factors. In recent years, Tianjin has witnesses huge growth but struggles with serious air and water pollution issues.
5) Shenzhen: Guangdong’s rising star Shenzhen is fifth with a GDP of 388.79 billion RMB and a growth rate of 8.4%. Shenzhen was ranked 33rd for economic growth. Since China’s Reform and Opening Up Period, tech giants like Huawei, Tencent, and Foxconn have made Shenzhen their base. Shenzhen has a growing startup scene and attracts young entrepreneurs as well. However, the city is growing almost too quickly and life in Shenzhen is becoming fast-paced, competitive, and tiring.
6) Chongqing: Chongqing is sixth with a GDP of 377.273 billion RMB and a growth rate of 10.7%. It is ranked 3rd in China for economic growth this quarter. Life in Chongqing may be slower than in its provincial rival Chengdu, but the Capital of Fog is quickly catching up. In Chongqing, one can experience bustling city life in a beautiful natural area for a lower price tag than in many comparable cities in China. Apartments in Chongqing still sell for less than 10,000 RMB per square meter. Prices have not been that low in Beijing for ten years.
7) Suzhou: The Venice of China is seventh with a GDP of 320.909 billion RMB and a growth rate of 8.2%. The city was ranked 38th for economic growth. Some say that if industry in Jiangsu went bust, all of China would be hit hard. Suzhou is Jiangsu’s largest industrial city, which accounts for its large GDP. The city is also a popular tourist destination: tourists enjoy the city’s ancient canals and traditional homes with white walls and black tile roofs.
8) Chengdu: Chengdu’s GDP was 260.167 billion RMB and its growth rate was 7.4%. The Sichuanese city was ranked 60th for economic growth.
9) Wuhan: Wuhan’s GDP was 249.568 billion RMB and its growth rate was 7%, Wuhan was ranked 74th for economic growth.
10) Hangzhou: Hangzhou’s GDP was 221.466 billion RMB and its growth rate was 10.3%. The city that is often known in China as “Paradise on Earth” is ranked fifth for economic growth. With its slow pace of life, Hangzhou has become popular with both locals and tourists.
Source: QQ News
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Keywords: Shanghai GDP China GDP
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