![]() Guangzhou, which ranked fourth in 2021 with a GDP of 33.8 billion RMB ahead of Chongqing, was overtaken by Chongqing in 2022 and fell to fifth place.ĭata from the statistical departments of both regions showed that Chongqing saw a 2.6% year-on-year GDP growth in 2022 to reach 2.91 trillion RMB, lagging behind the country’s growth rate by a mere 0.4 percentage points. Workers at a construction site in Guangzhou, Guangdong province, China, 25 February 2023. In 2021, Shanghai and Beijing had already joined the “four-trillion RMB GDP club”, while Shenzhen’s GDP had exceeded three trillion RMB for the second consecutive year. ![]() The latest ranking of China’s top ten cities by GDP was released this month, with Shanghai, Beijing and Shenzhen maintaining their top three spots. They also predicted that the traditional first-tier cities of Beijing, Shanghai, Guangzhou and Shenzhen have already become history and the new line-up will see Guangzhou replaced by Chongqing. Hence, its GDP is expected to steadily outpace its rivals for years to come. Stellar performanceĪcademics from both regions pointed out that Chongqing benefits from a second-mover advantage, and has been gradually narrowing the gap with Guangzhou in terms of industrialisation and openness. Notwithstanding the pandemic, drought and power cuts in the second half of 2022, the annual GDP of the “Mountain City” (Chongqing) not only outperformed that of the “City of the Goat” (Guangzhou) by 29 billion RMB (roughly US$4.2 billion), its year-on-year growth was also 1.6 percentage points higher. After more than 30 years, Chongqing surpassed Guangzhou for the first time in 2022 to become China’s fourth largest city in terms of GDP.
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