Guangzhou GDP

[ILC]

What happened to Guangzhou GDP?

Guangzhou was trailing Shenzhen and suddenly its GDP is much lower?
I think Guangzhou went Liaoning and GDP was adjusted for previous years.
Last year it was almost 2.3 T yuan so 6,8% GDP growth is impossible if the total GDP wasn't overestimated previously.
I thought HK will 3rd for 2019 year in PRD but it seems it won't be.

初步核算，2019年全市地区生产总值23628.60亿元，按可比价计算，比上年增长6.8%，增速比上年提升0.6个百分点。其中，第一产业增加值251.37亿元，增长3.9%；第二产业增加值6454.00亿元，增长5.5%；第三产业增加值16923.23亿元，增长7.5%。产业结构不断优化，三次产业比重为1.06：27.32：71.62。现代服务业增加值增长9.3%，占服务业比重达67.5%，比上年提升1.0个百分点，服务业主导型经济日益巩固。
http://news.southcn.com/gd/content/2020-01/24/content_190127088.htm


Look here:
东省内，深圳与广州2019年的GDP分别达到26927.09亿元与23628.6亿元。重庆市2019年的GDP则为23605.77亿元，与广州仅差22亿元左右。

http://finance.eastmoney.com/a/202001291368426847.html

 

[Paul2]

Answer is simple I think. Too little industry, too much hotels, malls, and luxury real estate. Saying "too little" is still relative.

Better take a look how dynamics in the wider Guangdong was for the last few years. A few industries actually took a hit at around 2017. Then real estate started slowing down.

Real estate was a once trick pony industry. Once you ran out of land leases, it's over.

 

[ILC]

I wonder if there was a change in how a GDP is calculated in 2019.

Shanghai GDP went up to 3.8155 trillion yuan from 3.2679
That's like more than 16% nominal gdp growth! Beijing also.

Beijing 2018 - > 3.0319 to 3.5371 trilion yuan in 2019.
Shenzhen 2018 ->2,422.2 to 2.6927 trillion yuan in 2019.
Guangzhou 2018 -> 2,285.9 to 2.3628 trillion yuan in 2019.

 

[ILC]

Indeed there was some revision in GDP calculations. I think for the period of time 2014-2018.

For example, Xiamen's previous reports stated that in 2018 its GDP was about 479.141 billion yuan, but after calculating again it turned out that in 2018 Xiamen GDP was increased by 67B yuan to 546.861 billion yuan.

Xiamen GDP at the end of 2019 is 599.504 billion yuan.

http://news.xmnn.cn/xmnn/2020/01/21/100656622.shtml