Chinese provinces: more to join trillion dollar club

[AndrewJin]

Shanghai no way, already pretty developed, growth won't pick up much. Zhejiang is obvious, and I think Sichuan has a lot of potential too. Didn't know Henan was still growing that fast.

Shanghai per capita GDP is only 17000 dollars (not PPP).
Now, 0.4 trillion dollars in total.
I see no problem reaching one trillion, considering Shanghai's distance from comparable metropolis in East Asia.

Zhengzhou, capital city of Henan Province


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We Central China is the real king in China!

My hometown 2016

 

[AstroTrain]

Somebody comment on Jiangxi province, what is their GDP level, growth prospects? I will be working there for 2 years roughly. Curious about my ancestrial province Hainan Dao too.

 

[dingyibvs]

Shanghai per capita GDP is only 17000 dollars (not PPP).
Now, 0.4 trillion dollars in total.
I see no problem reaching one trillion, considering Shanghai's distance from comparable metropolis in East Asia.
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We Central China is the real king in China!

My hometown 2016

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We're talking about 10 years though. Shanghai would need a 9.5% annualized growth rate in nominal terms, which may not be impossible but would be VERY difficult. Shanghai hasn't grown at that rate since at least 2010, and the speed is unlikely to pick up to pre-2010 rates ever. I'd think the other less developed provinces with a higher starting point would have a better shot reaching $1 trillion in 10 years.

 

[AndrewJin]

Somebody comment on Jiangxi province, what is their GDP level, growth prospects? I will be working there for 2 years roughly. Curious about my ancestrial province Hainan Dao too.

Unfortunately, Jiangxi is perhaps is the most underdeveloped province in Central China.
Remember the CPC established its major base in Jiangxi during 1920s?
Why did it happen in Jiangxi?
Because Jiangxi, though much closer to see than my province, it is predominantly mountainous, especially the southern part. The richer part is in the north, near my hometown, all plains. In fact, Wuhan-Changsha-Nanchang forms the richest part of Central China, three provincial capitals.

Per capita GDP of Jiangxi is much lower than the national average.
The average of Central China = the national average

Total GDP was only 0.28 trillion dollars in 2016.
But the growth is one of the highest, at 9% (4th highest)


Hefei-Fuzhou HSR, Jiangxi Province section

Jiangxi Province

Nanchang City

 

[TaiShang]

Currently, China has three provinces in the trillion-dollar-club.
Who will be the next?

Eastern China's Zhejiang, Fujian, Shanghai;
Central China's Henan, Hubei, and Hunan;
Western China's Sichuan,
will join the club within one decade?

View attachment 416622

Looks like Changsha is soon to be on the list

Changsha on track to join 'trillion-yuan GDP club' this year
By Gong Jie
China.org.cn, December 18, 2017

The GDP of Changsha, capital of Hunan Province, surpassed 747.8 billion yuan (US$113.3 billion) at a growth rate of more than 11 percent in the first three quarters of 2017. Its GDP is on track to break the 1 trillion yuan mark for the first time by the end of 2017, becoming the second city in central China and the forth in central and western China to join the ranks of the "trillion-yuan club."

Changsha has started to upgrade its traditional industries and equip them with smart manufacturing capabilities since 2015. [Photo/icswb.com]

The GDP of Changsha increased by 460 percent in the past 10 years, bringing its ranking in GDP from 24th to 14th. The surging growth rate could be attributed to its modernized manufacturing capabilities, its focus on technology innovation development, and government policy support.

Smart manufacturing

Changsha has started to upgrade its traditional industries and equip them with smart manufacturing capabilities since 2015. Its manufacturing sector was introduced to automatic production lines, industrial robots, database construction, and pilot enterprises in these new capabilities.

Since then, a total of 330 local companies have been named city-level, province-level, and state-level pilot enterprises for smart manufacturing. More than 20 companies have been certified as state-level pilot enterprises.

From January to October this year, the added value from industries above the designated scale in Changsha increased by 8 percent year-on-year. Both of these companies' added value and growth rate took the lead ahead of other provincial capital cities including Nanjing, Hangzhou and Zhengzhou, all of which have similar GDPs.

Innovative development

Innovation has become the impetus for the economic development of Changsha.

Emerging industries have given the city a much needed boost. They include industries such as new materials, mobile internet, e-commerce, auto manufacturing, big data, 3D printing, Beidou Navigation Satellite System, biological medicine, aviation and space industry, and artificial intelligence.

The mobile internet industry is growing rapidly in Changsha. There are more than 20,000 mobile internet companies in Changsha, with a total of 150,000 employees and a sales revenue of more than 75 billion yuan (US$11.36 billion). The annual growth rate of the city's mobile internet industry is over 40 percent.

Last year, the number of certified invention patents reached 16,885 in Changsha, accounting for 60.6 percent of the provincial certified innovation patents.

Favorable policies

The local authorities have supported Changsha's industries with new human resource and investment policies this year.

To facilitate scientific innovation, the municipal government increased the fiscal support to science and research this August. By 2020, the fiscal investment in science and technology will reach 5 billion yuan (US$757 million).

Meanwhile, the local authorities also unveiled a new human resources policy to attract more graduates. By the end of November, the local authorities had received 77,300 consultations about the new human resources policy after 100 days of its implementation. More than 21,800 graduates have received local residency and 13,600 graduates have received house subsidies from the local authorities.

http://www.china.org.cn/business/2017-12/18/content_50109589.htm

 

[AndrewJin]

How close is Zhejiang to become China's fourth 1-trillion-dollar province?
@cirr @TaiShang @Dungeness @Han Patriot

 

[TaiShang]

How close is Zhejiang to become China's fourth 1-trillion-dollar province?
@cirr @TaiShang @Dungeness @Han Patriot

Looks like Zhejiang is the closest candidate to hit the 1 trillion USD mark.

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China's Ningbo-Zhoushan port sees record throughput
Xinhua, December 27, 2017

NINGBO, Dec. 27 (Xinhua) -- Annual cargo throughput hit 1 billion tonnes at Ningbo-Zhoushan port in east China's Zhejiang Province, the port said on Wednesday.

This makes the port the first in the world to exceed such volume, said Mao Jianhong, chairman of Ningbo Zhoushan Port Group.

The port deepened cooperation with major shipping companies and harbors along the Belt and Road, adding five sea routes to raise its total to 86. It also signed cooperation agreements with 20 other ports, said Mao.

Ningbo-Zhoushan port handled over 10 million standard containers from countries and regions along the Belt and Road this year, up 16 percent year on year, he added.

The port also launched sea-rail transport services with 11 trains providing services to 36 cities in 14 provinces in China as well as countries in central and northern Asia and eastern Europe.

Container handling volume of its sea-rail transport is expected to surpass 400,000 standard containers this year, up 60 percent year on year.

The Ningbo-Zhoushan port lies at the meeting point of the Silk Road Economic Belt and the 21st Century Maritime Silk Road. It is the busiest port in China with 242 sea routes linking more than 600 harbors around the world. Enditem

http://www.china.org.cn/china/Off_the_Wire/2017-12/27/content_50170187.htm