The Gross Domestic Product (GDP) of Wuxi for 2017 hit ¥1.05 trillion in 2017, bolstering the Jiangsu city as it joins the ranks of the “Trillions Club” of China. Wuxi’s initiation into the Club was not a lonesome one; together with Changsha of Hunan Province, they joined 12 others nationwide.
The 14 cities to qualify for the prestigious club in 2017 are Wuxi, Changsha, Beijing, Chengdu, Chongqing, Guangzhou, Hangzhou, Qingdao, Shanghai, Shenzhen, Suzhou, Tianjin, Wuhan and our very own Nanjing, which ranks 11 on the list.
As reported by the Yangtze Post, 2017’s national GDP was ¥82.7122 trillion, increasing by 6.9 percent on the previous year. Of this, the 14 members of the Trillions Club generated ¥24.1114 trillion, accounting for 29.2 percent of the total.
Speaking of Nanjing, the city’s GDP surpassed the trillion mark more than a year ago, going on to amount to ¥1.171151 trillion in 2017, after it joined the Trillions Club with an outstanding 2016 economic performance.
Per capita, urban Nanjingers had at their disposal in 2017, ¥36,396, an increase of 8.3 percent. Greater Jiangsunians had a whopping ¥43,622 to play with for the year, which had risen by 8.6 percent. Talking “absolute income”, in 2017, Nanjingers ranked number 14 on the list, showing that while the city has indeed entered the Club, growth for rural and urban residents remained fairly slow in comparison to 2016.
According to China Daily, “Shanghai became the first city whose GDP exceeded 3 trillion yuan. Shenzhen outnumbered Guangzhou for the first time, and Chongqing made itself the first western city among the top five by replacing Tianjin… Chongqing showed the highest growth rate of 9.3 percent”.
As the wealthiest part of China, the Yangtze River Delta is no stranger to using the word “trillion” as a classifier. As long ago as 2010, the area recorded a GDP of US$1.058 trillion, then ¥6.9872 trillion yuan, corresponding to 17.6 percent of the national total.
On a global scale, in terms of city GDP, Shanghai ranks 13 as the top performing city in China. Yet, there are still a full six American cities ahead of anything here on the mainland. If factored into the list, Nanjing would come in around number 42, with its GDP similar to that of Denver.
