H1 GDP Of Top Chinese Cities Exceeds Expectations With Firm Growth
New data released by the 21st Century Business Herald has now revealed the gross domestic products (GDPs) of China's top 100 cities. The data shows that most of the cities with the strongest results have done much of the same this year, with the exception of some who have drastically improved their outputs.
The overall output of the top 20 Chinese cities for the first half of the year has managed to grow by 1.2 percent this year. The GDP of the top 20 cities reached $2.29 trillion, accounting for 35.84 percent of the country's total GDP for the first half of the year.
The top-performing cities for this year remain to be the same, with Shanghai leading the packs with a GDP of 1.64 trillion Yuan. Shanghai is followed by Beijing with 1.52 trillion Yuan, Shenzhen with 1.21 trillion Yuan, and Guangzhou with 1.18 trillion Yuan.
Overall, six Chinese cities were able to report GDPs that exceeded 1 trillion yuan for the first half. Among the six cities, two municipalities managed to break the 1 trillion yuan mark for the half-year period. Chongqing and Tianjin both managed to exceed a GDP of 1 trillion Yuan, with Chongqing reporting 1.03 trillion Yuan and Tianjin reporting 1.04 trillion Yuan.
Last year, 16 Chinese cities were able to break the 1 trillion Yuan GDP barrier. That number is expected to increase this year, with Foshan and Jinan expected to join in when the year ends. Both cities have GDPs that are near 500 billion Yuan for the half-year period.
Fifteen cities found on the top 100 list hail from East China's Shangdong province, with other cities coming from Guangdong, Zhejiang, and Jiangsu. Just like last year, no cities from Qinghai, Ningxia Hui, Hainan, and the Tibet autonomous region made it to the list.
The leading cities on the top 100 list hail from Central and Western China. Around 75 percent of the cities found on the list of 280 cities have managed to outperform the expected national GDP growth rate of 6.3 percent for the first half of the year.
This has been taken as a clear sign that industry still continues to flourish within China's top-tier cities, despite the country's ongoing trade dispute with the United States.
The report released by the 21st Century Business Herald was based on economic statistics collected by a data journalism lab under the company.
The report includes 282 cities that have already published their semi-annual economic reports. Administrative regions such as Taiwan, Hong Kong, and Macau were not part of the statistical analysis report.