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CHINA PRESS: Chongqing To Overtake Guangzhou As China’s Fourth City

CHINA PRESS
EM BulletAPACChinaEmerging Market NewsBulletGlobalFixed Income BulletsForeign Exchange BulletsRegionMarkets

Chongqing is increasingly viewed as China’s fourth city after growth momentum in the central metropolis outpaces Guangzhou, according to experts interviewed by Yicai. Chongqing’s GDP reached CNY2.3 trillion during the first three quarters, up 6.0% y/y, while Guangzhou’s hit 2.2 trillion, up 2.0% y/y, official data showed. From January to September, the added value of large-scale industries in Chongqing increased by 8.1% y/y versus Guangzhou’s 2.2% decline, while automotive manufacturing increased 25.9% in Chongqing while Guangzhou saw a 17.4% contraction. The operating income of service sector firms in Guangzhou grew 7.4% between January and August, slower than the 9.9% in Chongqing, Yicai noted.

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Chongqing is increasingly viewed as China’s fourth city after growth momentum in the central metropolis outpaces Guangzhou, according to experts interviewed by Yicai. Chongqing’s GDP reached CNY2.3 trillion during the first three quarters, up 6.0% y/y, while Guangzhou’s hit 2.2 trillion, up 2.0% y/y, official data showed. From January to September, the added value of large-scale industries in Chongqing increased by 8.1% y/y versus Guangzhou’s 2.2% decline, while automotive manufacturing increased 25.9% in Chongqing while Guangzhou saw a 17.4% contraction. The operating income of service sector firms in Guangzhou grew 7.4% between January and August, slower than the 9.9% in Chongqing, Yicai noted.