FX.co ★ PRC Economy: 5 cities with the largest GDP

The economy of the Republic of China is rightfully ranked as the second largest economy in the world, surprising analysts and experts with its scale. The population of China already exceeds 1.4 billion people, and the size of the economies of individual Chinese cities is comparable to those of developed European countries. We represent the top five cities in China with the largest GDP.

Shanghai

GDP for 2015: $810 billion

Comparable Economy: the Netherlands

Shanghai is the second largest city in the world (24.15 million people), being an important financial, economic, scientific, technical, commercial, industrial and cultural center of the country, as well as the world's largest seaport.

For more than 6 years, the port of Shanghai has been leading in the world in terms of cargo turnover generating 12.5% of China's GDP. Shanghai is of great interest to investors, as Chinese joint ventures here are exempt from taxes for three years.

Beijing

GDP for 2015: $664 billion

Comparable Economy: Switzerland

Beijing is the capital of China, one of the five direct-controlled cities. The city is a political, educational and cultural center of the country. The population of the megalopolis exceeds 21.5 million people.

Thanks to its convenient location, Beijing is the main railway and road junction of China. The leading industries of Beijing are engineering, ferrous metallurgy, and textile production. Business sphere is actively developing.

Guangzhou

GDP for 2015: $524 billion

Comparable Economy: Argentina

Guangzhou is a city of the sub-provincial importance of the PRC. It is the political, economic, scientific, technical, educational and cultural center of all of southern China. The population of the city is 14.04 million people.

The city is unique because of two economic and technological "development zones": one zone is packed with production enterprises, the other one is a free trade zone, it is full of trading and customs organizations. As a result of the developed industry, the city suffers a permanent shortage of electricity.

Shenzhen

GDP for 2015: $491 billion

Comparable Economy: Sweden

Shenzhen is a city of sub-provincial importance in the south of the People's Republic of China. The population of the city amounts to 11.91 million people. Large-scale foreign and state investments allowed the city to become a powerful industrial, financial and transport center not only of the southern region but of the whole of China.

Shenzhen is the largest of all Chinese cities in terms of export volumes that makes the city a gateway to attract investment, new technologies and a culture of doing business.

Tianjin

GDP for 2015: $478 billion

Comparable Economy: Poland

Tianjin is one of the four direct-controlled cities of China. The city is famous for the developed petrochemical and salt industry. In Tianjin, there are oil reserves of 1 billion tons.

Also, the main resource of the city is geothermal energy sources. In addition, the city is famous for the developed types of textile industry, machine building, and metalworking. The Airbus's assembly plant is located in the city.