The Top 10 Richest Cities in China, April 2021 (Cities With Over 5 trillion GDP)

In terms of the amount of urban capital, it has become a fact that Beijing，Shanghai, Shenzhen, Guangzhou, and Hangzhou are the richest cities in China. All five cities have reached over the 5 trillion level, and the growth rate of Hangzhou is second only to Shenzhen, and it keeps growing!

It is expected that Hangzhou will surpass Guangzhou in few years. Some second-tier cities, such as Chengdu, Wuhan, Chongqing, and Nanjing, are still far behind Hangzhou. Wuhan, in particular, the total amount of urban capital is just over 3 trillion RMB, it ranks the 11th in the country, just behind Tianjin.

From increase rate aspect, Beijing’s performance was poor, with a year-on-year growth of 7.5%, and the growth rate is far behind most the richest cities; it shows that Beijing’s recovery is not fast enough, its industrial resistance is average, and capital inflows are slow. It needs to speed up its pace to keep up with the development of other cities. Otherwise it may be caught up by Shanghai in the next few years.

At present, China's traditional manufacturing industry is facing the challenge of capital circulation. For example, as the costs of labor, land, and the environment increase, the profits of the manufacturing industry are greatly diluted. In this case, capital is driven by profit. Cities such as Nanjing have the best resources in education, medical care, culture, finance, etc., so it is easier to transfer capital to these capital cities with better geographical locations.

And for Hangzhou, the development was almost perfect except for college education and medical care; it is with great potential to become a first-Tier city once the GDP grows.

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