What Is Gross Domestic Product?
Gross domestic product, or GDP, is the measure of the goods and services produced in a particular market. GDP may be measured on an annual or quarterly basis and are indicators of the economic performance of a country, region, or city. It may be presented as nominal, which does not reflect inflation or cost of living, and as purchasing power parity (PPP), which does consider inflation and cost of living.
Economy Of China
China has the second largest economy by nominal GDP and the largest economy by PPP in the world. For the 30 years leading up to 2015, the economy of China was the fastest growing in the world with a growth rate of roughly 10% annually. Within the country, economic activity varies across regions and from city to city. This article takes a look at which cities have the highest GDP.
Top 15 Cities In China By GDP
Over $300 Billion
Shanghai and Beijing have the highest amounts of GDP in the country.
Shanghai is considered the richest city in the country with a 2013 GDP of $352,292,000,000 and a PPP of $600,571,000,000. This city has a population size of over 24 million and is designated by the Chinese government as a “Free Trade Zone”. It has the busiest container port in the world and serves as an international financial center. This city is home to 787 financial institutions and the Shanghai Stock Exchange, which ranks 3rd in the world in trading volume.
Beijing is the second richest city in China with a 2013 GDP of $319,719,000,000 and a PPP of $545,041,000,000. This city has a population size of 24.9 million. It is home to the headquarters of 52 Fortune Global 500 companies, several of which are state-owned organizations. Additionally, Beijing is known as the center of technological entrepreneurship in the country. This city has one of the fastest growing economies in the country, which experienced a 200% increase between 2004 and 2012.
Between $200 and $300 Billion
Five cities in China have a GDP that measures between $200 and $300 billion. These are: Guangzhou ($248.985 billion), Shenzhen ($234.131 billion), Tianjin ($233.191 billion), Suzhou ($210.161 billion), and Chongqing ($206.408 billion).
Of these cities, Guangzhou has the highest GDP at $248,985,000,000. This city has an estimated population of over 14 million while the surrounding metro area is 44.5 million. It serves as an important transportation and port city of the Pearl River Delta, which is one of the most significant commercial areas of China. Because of fast industrialization in this city, it is one of the most polluted in the country. The Ministry of Trade holds the annual Canton Trade Fair here, the oldest and largest in China.
Below $200 Billion
The remaining cities on the list have a GDP that is less than $200 billion. These cities include: Chengdu ($147.079 billion), Wuhan ($146.149 billion), Hangzhou ($134.721 billion), Wuxi ($130.307 billion), Nanjing ($129.364 billion), Qingdao ($129.281 billion), Dalian ($123.535 billion), and Shenyang ($115.588 billion).