Chinese city Shenzhen surpassed China Hong Kong,became NO.1 among Guangdong, Hong Kong and Macao

[Adam WANG SHANGHAI MEGA]

For the first time, the total GDP of Chinese city Shenzhen surpassed China Hong Kong,became NO.1 among Guangdong, Hong Kong and Macao

China Economic Net 2019-02-27 14:01:57
https://www.toutiao.com/a6662556497643307534/

Zhongxin Jingwei Client February 28 (Xue Yufei) The website of the Hong Kong Special Administrative Region Government Statistics Office released on the 28th, showing that Hong Kong's GDP in 2017 was HK$266.637 billion, which was calculated based on the central parity of HKD/RMB on the 28th. The RMB is approximately 215,295.55 billion yuan. The data shows that Shenzhen's total GDP in 2017 was 2,243,839 million yuan, surpassing Hong Kong for the first time, becoming the city with the largest economic aggregate in Guangdong, Hong Kong and Macau.

For the first time, the total GDP of Shenzhen surpassed Hong Kong to become NO.1 in Guangdong, Hong Kong and Macau
The statistics table of the website of the Census and Statistics Department of the Hong Kong Special Administrative Region shows that Hong Kong's GDP in 2017 was HK$ 2,662,637.

According to data from the website of the Census and Statistics Department of the Hong Kong Special Administrative Region, Hong Kong's economy grew by 3.8% in 2017, with a GDP of HK$266.637 billion. Based on the central parity of HKD/RMB of 0.80858 on the 28th, it is equivalent to approximately RMB 215,295 million.

According to Hong Kong Wenhui.com, Hong Kong's Financial Secretary Chen Maobo said that due to the better external environment, Hong Kong's economy grew by 3.8% last year, higher than last year's budget forecast and higher than the past 10 years (2007-2016). Annual average growth rate of 2.9%.

Previously, Shenzhen has released economic data for 2017. According to preliminary calculations, Shenzhen achieved a regional GDP of 2,243,839 million yuan in 2017, which was 8.8% higher than the previous year at comparable prices.

In other words, Shenzhen's total GDP has officially surpassed Hong Kong, becoming the city with the largest economic aggregate in Guangdong, Hong Kong and Macau. If ranked by the total amount of urban GDP, Shenzhen's total economic output is second only to Shanghai and Beijing, becoming the third pole of China's urban economic aggregate.

Although Shenzhen's economic aggregate exceeds that of Hong Kong, it is still less than the latter in terms of per capita GDP. Chen Maobo said that Hong Kong's per capita GDP is currently 46,000 US dollars, ranking the top in the world.

Hong Kong Dagong.com reported that Chen Maobo pointed out that Guangdong, Hong Kong and Macau's Dawan District has three advantages, such as dual market, innovative technology industry and land resources. Dawan District has a population of 68 million and a total production value of US$1.4 trillion, providing a huge market for Hong Kong's financial and high-end services. Hong Kong can go out to sea with mainland enterprises and open up markets. In addition, Dawan District has not only Shenzhen, which has a number of leading science and technology enterprises, but also a number of cities that are transforming into advanced manufacturing industries. In the science and technology industry, they can help each other and help each other to achieve a talent and scientific research institution. International Innovation Center for corporate convergence. Dawan District also has abundant land resources. With the completion of a number of transportation infrastructures, it is very convenient to travel around the region. If there is a breakthrough in policy, Hong Kong people can more easily operate, study, and employment in the region. life.

Regarding the economic prospects for 2018, the Hong Kong SAR Government believes that the continued expansion of the global economy and the strong internal demand are expected to provide strong support for the Hong Kong economy in the future. As long as there are no major changes in the periphery, the Hong Kong economy will increase its GDP by 3% to 4% in 2018, following a 3.8% increase in 2017. (Zhongxin Jingwei APP)

 

[andylrd]

No surprise. Guangzhou will also do that in years to come.

More and more mainland cities surpass Hongkong, a sure thing, which we're delighted to see.
Many HKers live a competitive and depressing life, given the high housing / living cost.
Many HK friends of mine earn no more than us, or similiar, but have to live a much restricted life, and few can offer to buy a house (if do, only with great help from parents). And their houses, 4-5 people living, but the total area, barely the size of our living room. How could you call that comfortable.

I guess, years later, when the 9 cities in the Greater Bay Area gets more intergrated, many HKers will come and live in mainland cities.

 

[Place Of Space]

I knew it would happen sooner or later.

 

[Adam WANG SHANGHAI MEGA]

No surprise. Guangzhou will also do that in years to come.

More and more mainland cities surpass Hongkong, a sure thing, which we're delighted to see.
Many HKers live a competitive and depressing life, given the high housing / living cost.
Many HK friends of mine earn no more than us, or similiar, but have to live a much restricted life, and few can offer to buy a house (if do, only with great help from parents). And their houses, 4-5 people living, but the total area, barely the size of our living room. How could you call that comfortable.

I guess, years later, when the 9 cities in the Greater Bay Area gets more intergrated, many HKers will come and live in mainland cities.

HK only problem is its super high appartment price/real estate price,which make it horrible for every one,every company.

Even Jack Yun MA, he thinks Hong Kong's housing prices are too high.

 

[Mista]

Regarding the economic prospects for 2018, the Hong Kong SAR Government believes that the continued expansion of the global economy and the strong internal demand are expected to provide strong support for the Hong Kong economy in the future. As long as there are no major changes in the periphery, the Hong Kong economy will increase its GDP by 3% to 4% in 2018, following a 3.8% increase in 2017. (Zhongxin Jingwei APP)

...?

The article is posted in 2019 and they are talking about 2017 and 2018 projections?

 

[Adam WANG SHANGHAI MEGA]

The past 40 years comparasion between HK,China and Shenzhen ,China
Dark blue Shenzhen

Light blue Hongkong

Observer Network previously reported that in terms of comparative economic aggregates, the total GDP of Hong Kong should be converted according to the average exchange rate of RMB against Hong Kong dollars.
In view of this, according to the exchange rate provided by the official website of the Hong Kong Census and Statistics Department, the average exchange rate of RMB against Hong Kong dollars in 2018 is 1.1855. Based on this calculation, Hong Kong's GDP last year was equivalent to RMB 2240.98 billion. The GDP of Shenzhen in 2018 was 2421.918 billion yuan, which was 22.1 billion yuan higher than Hong Kong.

 

[cirr]

Guangzhou will replace Hong Kong and become the 4th richest Chinese city in 2019.

 

[Beast]

40 years ago. Shenzhen is only a small village with 10000 Chinese living there.

 

[TaiShang]

Many HK friends of mine earn no more than us, or similiar, but have to live a much restricted life, and few can offer to buy a house (if do, only with great help from parents). And their houses, 4-5 people living, but the total area, barely the size of our living room. How could you call that comfortable.

I always find HK China as depressing. Except for (academic) business, I tend to not stay there for too long.

HK needs a complete overhaul, including their stupid traffic rule, weird, idiotic British colonial-legacies, and that outdated two-systems model.

 

[Adam WANG SHANGHAI MEGA]

I always find HK China as depressing. Except for (academic) business, I tend to not stay there for too long.

HK needs a complete overhaul, including their stupid traffic rule, weird, idiotic British colonial-legacies, and that outdated two-systems model.

HK only problem is its super high appartment price/real estate price,which make it horrible for every one,every company.

Even Jack Yun MA, he thinks Hong Kong's housing prices are too high.

 

[andylrd]

HK only problem is its super high appartment price/real estate price,which make it horrible for every one,every company.

Even Jack Yun MA, he thinks Hong Kong's housing prices are too high.

The super high real estate price is of course one of the crucial issues to the "depressing" hongkong, but can't say it is the "only problem". Just talked with a hk friend yesterday when she "comes up" to Dongguan, who also plans to buy an apartment, that current house price in HK is about 180,000-200,000 HKD/m2, goddamn high. But even in Shenzhen, specially in centre areas such as Nanshan, Futian, the house price also exceeds 120,000 HKD/m2 (100,000 RMB/m2).

Insane.

But this friend is lucky, as her family has an old ancestral house in Nanshan area, now waiting for Shenzhen government to claim the land for development, so that they can get a big big money. But what they really want is, that the government (& developers) to pay them with houses, no cashes. Now in negotiation, hopeful to get houses of triple size of the old house. Good luck to them.

 

[Adam WANG SHANGHAI MEGA]

The super high real estate price is of course one of the crucial issues to the "depressing" hongkong, but can't say it is the "only problem". Just talked with a hk friend yesterday when she "comes up" to Dongguan, who also plans to buy an apartment, that current house price in HK is about 180,000-200,000 HKD/m2, goddamn high. But even in Shenzhen, specially in centre areas such as Nanshan, Futian, the house price also exceeds 120,000 HKD/m2 (100,000 RMB/m2).

Insane.

But this friend is lucky, as her family has an old ancestral house in Nanshan area, now waiting for Shenzhen government to claim the land for development, so that they can get a big big money. But what they really want is, that the government (& developers) to pay them with houses, no cashes. Now in negotiation, hopeful to get houses of triple size of the old house. Good luck to them.

On average, Shenzhen's housing prices are only one-third of Hong Kong's, and Shenzhen's per capita GDP has reached 70% of Hong Kong's. (Of course, Shenzhen is one of the most effective cities in China).

In the case of unusually high housing prices in Hong Kong, Hong Kong has retained large areas of green space. The Hong Kong government has banned the development of green space. Instead, it has chosen to reclaim land fromsea. This is a costly and time-consuming method. Hong Kong has too many green spaces.
（It’s good, but it’s a bit too much. Hong Kong’s high housing prices are caused by the Hong Kong government, with 7.45 million people, most of whom live on Hong Kong Island and the Kowloon Peninsula. It’s strange if housing prices are not high.)

 

[rott]

For the first time, the total GDP of Chinese city Shenzhen surpassed China Hong Kong,became NO.1 among Guangdong, Hong Kong and Macao

China Economic Net 2019-02-27 14:01:57
https://www.toutiao.com/a6662556497643307534/

Zhongxin Jingwei Client February 28 (Xue Yufei) The website of the Hong Kong Special Administrative Region Government Statistics Office released on the 28th, showing that Hong Kong's GDP in 2017 was HK$266.637 billion, which was calculated based on the central parity of HKD/RMB on the 28th. The RMB is approximately 215,295.55 billion yuan. The data shows that Shenzhen's total GDP in 2017 was 2,243,839 million yuan, surpassing Hong Kong for the first time, becoming the city with the largest economic aggregate in Guangdong, Hong Kong and Macau.

For the first time, the total GDP of Shenzhen surpassed Hong Kong to become NO.1 in Guangdong, Hong Kong and Macau
The statistics table of the website of the Census and Statistics Department of the Hong Kong Special Administrative Region shows that Hong Kong's GDP in 2017 was HK$ 2,662,637.

According to data from the website of the Census and Statistics Department of the Hong Kong Special Administrative Region, Hong Kong's economy grew by 3.8% in 2017, with a GDP of HK$266.637 billion. Based on the central parity of HKD/RMB of 0.80858 on the 28th, it is equivalent to approximately RMB 215,295 million.

According to Hong Kong Wenhui.com, Hong Kong's Financial Secretary Chen Maobo said that due to the better external environment, Hong Kong's economy grew by 3.8% last year, higher than last year's budget forecast and higher than the past 10 years (2007-2016). Annual average growth rate of 2.9%.

Previously, Shenzhen has released economic data for 2017. According to preliminary calculations, Shenzhen achieved a regional GDP of 2,243,839 million yuan in 2017, which was 8.8% higher than the previous year at comparable prices.

In other words, Shenzhen's total GDP has officially surpassed Hong Kong, becoming the city with the largest economic aggregate in Guangdong, Hong Kong and Macau. If ranked by the total amount of urban GDP, Shenzhen's total economic output is second only to Shanghai and Beijing, becoming the third pole of China's urban economic aggregate.

Although Shenzhen's economic aggregate exceeds that of Hong Kong, it is still less than the latter in terms of per capita GDP. Chen Maobo said that Hong Kong's per capita GDP is currently 46,000 US dollars, ranking the top in the world.

Hong Kong Dagong.com reported that Chen Maobo pointed out that Guangdong, Hong Kong and Macau's Dawan District has three advantages, such as dual market, innovative technology industry and land resources. Dawan District has a population of 68 million and a total production value of US$1.4 trillion, providing a huge market for Hong Kong's financial and high-end services. Hong Kong can go out to sea with mainland enterprises and open up markets. In addition, Dawan District has not only Shenzhen, which has a number of leading science and technology enterprises, but also a number of cities that are transforming into advanced manufacturing industries. In the science and technology industry, they can help each other and help each other to achieve a talent and scientific research institution. International Innovation Center for corporate convergence. Dawan District also has abundant land resources. With the completion of a number of transportation infrastructures, it is very convenient to travel around the region. If there is a breakthrough in policy, Hong Kong people can more easily operate, study, and employment in the region. life.

Regarding the economic prospects for 2018, the Hong Kong SAR Government believes that the continued expansion of the global economy and the strong internal demand are expected to provide strong support for the Hong Kong economy in the future. As long as there are no major changes in the periphery, the Hong Kong economy will increase its GDP by 3% to 4% in 2018, following a 3.8% increase in 2017. (Zhongxin Jingwei APP)

Something wrong with the article. They said HK is 266 billion and Shenzhen is 2.2 million. I am confused.

 

[andylrd]

On average, Shenzhen's housing prices are only one-third of Hong Kong's, and Shenzhen's per capita GDP has reached 70% of Hong Kong's. (Of course, Shenzhen is one of the most effective cities in China).

In the case of unusually high housing prices in Hong Kong, Hong Kong has retained large areas of green space. The Hong Kong government has banned the development of green space. Instead, it has chosen to reclaim land fromsea. This is a costly and time-consuming method. Hong Kong has too many green spaces.
（It’s good, but it’s a bit too much. Hong Kong’s high housing prices are caused by the Hong Kong government, with 7.45 million people, most of whom live on Hong Kong Island and the Kowloon Peninsula. It’s strange if housing prices are not high.)

That is why I think more and more HKers will be forced to live beyond HK in future, just like that many Shenzheners are forced to live outside of Shenzhen, buying houses at Dongguan, Huizhou. I think the "greater bay area" plan also target to make that easier (specially on policies) for them to move and travel.

 

[Jlaw]

I always find HK China as depressing. Except for (academic) business, I tend to not stay there for too long.

HK needs a complete overhaul, including their stupid traffic rule, weird, idiotic British colonial-legacies, and that outdated two-systems model.

rich hk tycoons are against public housing for obvious reasons.