China's nominal GDP will hit $15 TRILLION in 2018

[lonelyman]

Western countries have lots of fake virtual GDP, like skyrocketing rent and $5000 surgery that will only cost 1000 yuan in China.

So true, a simple hospital visit, you get billed $10,000

 

[TaiShang]

So true, a simple hospital visit, you get billed $10,000

I got a bill worth 2300USD for a five minute emergency visit in a hospital while I was covered by an international student health insurance.

I guess I contributed mightily to the US GDP.

 

[Adam WANG SHANGHAI MEGA]

In this case,CHINA GDP per capita would surpass 10 000USD in 2018·

 

[AndrewJin]

In this case,CHINA GDP per capita would surpass 10 000USD in 2018·

Good

 

[beijingwalker]

Shenzhen surpasses US$338 billion GDP mark in 2017, beats Hong Kong and Singapore
Economic expansion dwarfs growth in neighbouring Hong Kong as city stakes more on research and development
PUBLISHED : Monday, 15 January, 2018, 4:20pm

The southern Chinese city of Shenzhen has marked an economic milestone, surpassing the 2 trillion yuan GDP mark with 8.8 per cent growth in 2017 to cement its role as an engine of the Pearl River Delta.
The city, which is roughly the same economic size as Singapore and Hong Kong, recorded nominal output of 2.2 trillion yuan (US$338 billion) in 2017 thanks to its booming hi-tech sector, state-run Shenzhen Special Zone Daily reported on Monday.

Over 40 per cent of the output came from “innovative” businesses such as internet, biotech and telecom, the report said.

Hong Kong’s gross domestic product was US$320 billion in 2016 and was estimated to rise 3.7 per cent last year, while Singapore’s economy was valued at US$297 billion in 2016 and may have grown 2.5 per cent last year.

Starting as a small fishing village in 1980, Shenzhen has grown from a sweatshop into a hi-tech hub home to 12 million people and a group of leading Chinese tech firms, including internet giant Tencent, telco Huawei and drone maker DJI.

It also had more than 3 million registered businesses at the end of 2017, or one registered enterprise for every four people.

In nominal terms, Shenzhen has doubled its economic output in just six years – the city’s nominal GDP was 1.1 trillion yuan in 2011.

According to Shenzhen Special Zone Daily, 4.13 per cent of Shenzhen’s GDP went into research and development in 2017 – the highest for any Chinese city – and that level was expected to rise to 4.25 per cent by 2020.

Hong Kong Chief Executive Carrie Lam said in October that Hong Kong would double its R&D expenditure to 1.5 per cent of its GDP in the next five years to encourage innovation.

Shenzhen people’s congress delegate Yang Qin said Shenzhen’s example was putting pressure on other cities in the region to go hi-tech.

Yang said technology, instead of labour-intensive production or fixed-asset investment, was seen “among local authorities as the best new engine to boost local economic growth”.

Together Shenzhen, the provincial capital of Guangzhou and Hong Kong, have a combined economic size of about US$1 trillion, forming the backbone of an envisioned “Greater Bay Area” meant to lead the national economy to the next stage of development.
http://www.scmp.com/news/china/econ...hen-88-cent-hi-tech-growth-roll-hit-y2tr-2017

 

[beijingwalker]

Chinese city GDP rankings
1. Shanghai
2. Beijing
3. Shenzhen
4. Guangzhou
5. Hong Kong

 

[andylrd]

Chinese city GDP rankings
1. Shanghai
2. Beijing
3. Shenzhen
4. Guangzhou
5. Hong Kong

Really could not ingest the fact that Shenzhen beats Hongkong so fast........
I still quiet remember that, just few years ago, Hongkongers earned at HK, and went to Shenzhen to buy / rent houses and consumed, as they felt things were "cheap" here.

No longer now, no longer......
The world is changed.

 

[beijingwalker]

ShenZhen，a city that is barely 40 years old, Thanks for Deng xiao ping turning this sleeping fishing village into a global cosmopolitan super city.

 

[cirr]

Chinese city GDP rankings
1. Shanghai
2. Beijing
3. Shenzhen
4. Guangzhou
5. Hong Kong

With 2017 GDP of 1732 billion Yuan, Suzhou is nibbing at the heels of Hong Kong.

 

[Chinese-Dragon]

I always thought Shenzhen had huge potential.

Though the temperature is still too warm, like Hong Kong. I prefer the climate in cities like Beijing and Tianjin.

With 2017 GDP of 1732 billion Yuan, Suzhou is nibbing at the heels of Hong Kong.

Suzhou is fantastic.

 

[beijingwalker]

I always thought Shenzhen had huge potential.

Though the temperature is still too warm, like Hong Kong. I prefer the climate in cities like Beijing and Tianjin.

Beijing is so cold this winter, the good thing is that almost everyday we have clear blue sky here.

 

[Chinese-Dragon]

Beijing is so cold this winter, the good thing is that almost everyday we have clear blue sky here.

I prefer a colder climate like Beijing, Hong Kong is too hot and humid during the summer.

If it was just hot, it would be fine. But HK is both hot and humid. It's a really annoying combination. Shenzhen has a similar problem.

Luckily we have air conditioning basically everywhere.

 

[Tauren Paladin]

The Silicon Valley of Asia.

 

[onebyone]

China richest city is Beijing with a per capita GDP in 2017 of 20,356. China’s currency has strengthened by about 2% since the end of 2018. This puts Beijing at about the level of Portugal or Saudi Arabia with $20,575 and $20,957.

There are about 22 million people in Beijing and 25 million in Shanghai. Shanghai has per capita GDP in 2017 of $19,671.

Portugal has a population of 10.5 million.
Tianjin has a population of 15.5 million and a per capita GDP of $18,800.

Jiangsu has a population of 74 million and a per capita GDP of $16965.

The top four city/regions in China have a total population 135 million or more than the population of Japan.

https://www.nextbigfuture.com/2018/02/beijing-passing-portugal-in-per-capita-gdp-in-2018.html

 

[MultaniGuy]

Congratulations to China.