Real economic power of the Chinese capital

Concentrated in trillion-rich districts, Chinese cities have a GDP higher than Sweden, far ahead of Singapore and Thailand - Photo 1.

The rich Haidian district is the mainstay of Beijing’s economy. Photo: Beiwan zaixian

According to data released by the Beijing Municipal Bureau of Statistics, the capital’s 2022 GDP China reached 4,161.09 billion yuan (about 613.8 billion USD), up 0.7% over the same period.

In general, on the China urban economic map in 2022, there are 7 cities with a total GDP of more than 2 trillion yuan: Shanghai, Beijing, Guangzhou, Shenzhen, Chongqing, Suzhou and Chengdu.

Among them, Beijing and Shanghai, as two major economic centers, have both reached more than 4 trillion yuan, so they are also known as “4,000 billion cities”.

If Beijing were considered an economy, the Chinese capital would have a rather high position in the ranking of global economies.

Based on the IMF’s 2022 GDP size forecast, Beijing’s GDP will rank 25th, overtaking Sweden’s (US$603.992 billion) and far ahead of many economies like Thailand ($534.758 billion) ), Malaysia ($434,059 billion) or Singapore ($423,632 billion) etc..

The district is rich in trillions

According to public reports, Beijing’s GDP surpassed 3 trillion yuan (about 450 billion USD) in 2018 for the first time and reached 4 trillion yuan (about 589 billion USD) in 2021.

In addition, the city’s GDP per capita has surpassed 180,000 yuan (about 26,000 USD), ranking first among provinces and cities in China.

Among the two “4,000 billion cities”, if Shanghai is strong thanks to foreign trade, Beijing shines thanks to rich districts such as Hai Dien (GDP 1,020.69 billion yuan – 14,987 billion USD), Chaoyang (761 billion USD). 7 billion yuan – 11.236 billion USD).

Concentrating in trillion-rich districts, Chinese cities have a GDP higher than Sweden, far ahead of Singapore and Thailand - Photo 2.

Beijing’s economy is quite strong. Photo: VCG

According to published economic data, the GDP growth rate of Beijing districts as a whole is between 1% and 3%.

In particular, Haidian District is currently the second most powerful county in the Chinese economy, with a GDP exceeding 1 trillion yuan, second only to the Pudong New District in Shanghai.

Hai Dien has an area of ​​431 km2, GDP trillion means that each square kilometer of land here can generate 2,368 billion yuan (about 349 thousand USD) of GDP.

It is no exaggeration to say that Hai Dien is the top of the picture of “an inch of land is an inch of gold”.

In addition, GDP per capita is often used to measure the standard of living of residents in a country (region), which visually reflects the wealth and poverty of a country (region).

According to published data, the GDP per capita of Hai Dien district is 49,000 USD in 2022.

On the world scale, if Hai Dien is considered as a separate economy, the GDP per capita of Hai Dien district will be in the top 20 in the world.

In 2021, Luxembourg tops the list with a GDP per capita of $136,000, the United States ranks sixth in the world with a GDP per capita of $69,000, and Germany ranks 18th with a GDP per capita of $50,000.

From the data point of view, the GDP per capita of Haidian district ($49,000) will be more than the GDP per capita of the UK ($47,000), France ($44,800), Japan ($39,300) or Korea Country (34,000 USD) etc..

What is the economic pillar?

In Beijing in general and Haidian in particular, the foundation of trillion-dollar GDP is science and technology.

Haidian is currently the headquarters of China’s high-tech science and technology center.

Based on previously published data, in 2022, the total value of Haidian high industrial output will be 274.91 billion yuan (about 40 billion USD), of which high-tech manufacturing will reach 209.28. billion yuan (about 30.8 billion USD), accounting for nearly 80%.

Concentrated in trillion-rich districts, Chinese cities have a GDP higher than Sweden, far ahead of Singapore and Thailand - Photo 3.

The high-tech sector is the mainstay of Beijing’s economy. Photo: Beiwan zaixian

From the perspective of industrial structure, Hai Dien district is mainly dominated by the third economic sector – services. In particular, high-tech enterprises are the main force in the third economic sector.

At the macro level for the whole of Beijing, the service sector is also the main pillar.

Beijing’s economy is divided into three sectors: Region 1 (agriculture, forestry and fishery) reaching 11.15 billion yuan – 1.644 billion USD, region 2 (manufacturing and construction) reaching 660.51 billion yuan – 97,433 billion USD and sector 3 (services) reached 3,489.43 billion yuan – 514.736 billion USD.

Among the trillion cities of Beijing, Shanghai, Guangzhou and Shenzhen, Beijing’s service sector consistently leads the country.

The number of state-owned high-tech enterprises, specialized enterprises and unicorn enterprises in Beijing also ranks first in the country.

Beijing also owns the “global four banks” (Industrial and Commercial Bank of China, Bank of China, China Construction Bank, Agricultural Bank of China), Internet giants such as JD, Baidu and Xiaomi, art giants like China Film and Huayi…

In the fields of information services, cloud computing, artificial intelligence, network security, cultural entertainment, creative design, etc., Beijing has a very deep accumulation and concentration of world-class resources. in China.

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