Tianjin could drop out of China’s top five cities in GDP
Due to a slowdown in economic growth, it is increasingly possible that Tianjin will be surpassed by Chongqing's steady progress
Shanghai has secured first place in China’s top ten cities in terms of economic growth, with its GDP volume reaching the 3.01 trillion yuan (US$470 million) mark in 2017, The Paper reported.
Beijing, Shenzhen and Guangzhou follow Shanghai with their over-two-trillion-yuan GDP volume.
Meanwhile, due to a slowdown in economic growth in 2017, it is highly possible that Tianjin will be surpassed by Chongqing, and fall out of the top five cities in GDP altogether.
Though Chongqing has not yet updated its GDP in 2017, its economy is growing at a higher rate than Tianjin’s. Chongqing recorded year-on-year GDP growth of 10.7%, compared to Tianjin’s 9% in 2016.
The remaining top ten cities are expected to be Suzhou, Chengdu, Wuhan and Hangzhou as in 2016. The top ten cities account for 23.3% of China’s GDP, almost a quarter.