Not only Beijing or Shanghai, these 5 Chinese New Top Tier Cities’ Economies are Booming

27/06/2019

More cities in China have entered the first-tier city club as they catch up with traditional metropolises like Beijing, Shanghai, Guangzhou and Shenzhen. Here 5 fast growing new top tier cities

 

Chinese financial news media Yicai recently released its 2019 ranking of China’s new first-tier cities, with Southwest China’s Kunming of Yunnan province a newcomer this year. Evaluation statistics include big data from 170 major consumer brands as well as consumer data from 18 internet companies from different sectors in 337 cities. Criteria include the cities’ business resources, potential to function as a hub, resident activity, lifestyle diversity and future adaptability. Let’s take a look at the top 5 new first-tier cities in China this year.

1. Chengdu, Not oOnly Pandas and Spicy Food

 

Thanks to a relevant position within the new Silk Road routes, Chengdu took up the Made in China 2025 challenge with amazing successes. While PRC is preparing for its leadership role in the field of innovation, the “panda town” is growing as a new global hi-tech hub.

This heavenly land has found success in the thriving Chinese luxury market and it is now considered the third largest luxury market in China, after Beijing and Shanghai. However, behind the loud Louis Vuitton and Cartier’s signs, an emerging market made the city of abundance essential for the Chinese economy: the hi-tech market.

With the aim of becoming a technology hub and the goal of attracting global talents and enterprises, the Chengdu Hi-tech Industrial Development Zone (CHIDZ) established in 1988, actually ranks the 4th among all China’s state-level high-tech zones. This high-tech development area has promoted countless Chinese technology companies to help them enter the international arena.

Half of the laptop chips and two-thirds of all iPads are produced in Chengdu, whose IT industry has generated 480billion yuan in revenue just last year. According to the city’s expectations, this figure will reach 1trillion yuan by 2020. Chengdu’s GDP has already surpassed $160 billion last year, with an increase of 7.7% from the previous year.

 

2. Tianjin is One of The Fastest Growing Cities in the World

 

Tianjin is a municipality in northern China southeast of Beijing, in Bohai Bay – and one of China’s four largest economic regions. With a growth rate that has exceeded 10% every year since 2004, it is one of the fastest growing cities in China and has the highest per capita GDP in the country.

Tianjin’s diverse economy encompasses many industries, including tech, manufacturing, telecommunications, shipping and logistics, aerospace, oil, tourism and agriculture. It is developing as the main economic zone in northeastern China, similar to that of Shenzhen and Shanghai.

The port of Tianjin, as the largest commercial and global port in the north of China, provides services to 400 ports in over 200 countries and regions around the world. Tianjin Binhai International Airport is a major freight center in China. The city is well connected to other large cities by dozens of railways and highways, creating an important network even before the  Belt and Roadinitiative was discussed.

With the 13th five-year plan (2016-20) and, despite the economic slowdown, the economy continues to grow and shows progress, with GDP up 9.1%, revenues up 12.8% and investments of 13.8%, in particular, domestic investments increased by 12.3% and foreign investments increased by 12.6%.

 

3. Hangzhou Leads the way for Sustainable Tourism in China

Jack Ma legacy is Alibaba - Hangzhou - cifnews

Hangzhou can thank Jack Ma for putting it on the map. As home to Alibaba, Hangzhou has earned the title of ‘e-commerce capital of China’. In April 2016, the government designated the city as one of China’s 10 cross-border e-commerce pilot cities giving it preferential status to facilitate tax policy and handle foreign goods. Today Zhejiang Province capital city is one of greenest city in China and one of PRC’s silicon Valley

When Marco Polo visited Hangzhou in the 13th century, he called it “the finest and most splendid city in the world”. Capital of the fallen Southern Song emperors, today Hangzhou is home to nine million people and is leading Chinese shift energy policies. the iconic Yangtze Delta river city won its “green challenge” thanks to former mayor Qiu Baoxing – called China’s sustainable city guru – that let Hangzhou is successfully greening its air, water and landscapes.

Trees, pedestrian parks and lantern-lit paths line stretches of the Grand Canal, which was mostly a stinking, toxic wasteland 20 years ago. And to cut air pollution, the city is limiting car ownership and has a fast-growing metro network. Some historic streets are protected, as are several lakes just outside town. Since 2010, Hangzhou has been one of the National Development and Reform Commission’s (NDRC) eight low-carbon pilot cities across China.

This programme covers greenhouse gas accounting, low-carbon development planning, industrial and economic policies, government training and international cooperation and knowledge sharing. The plan also encourages low-carbon lifestyles and is underpinned by a strong focus on rapidly increasing the proportion of renewables for the city’s energy mix. Lessons learnt here are now being scaled up and applied across the country.

 

 

4. Nanjing Is Growing and the Time to Invest Is Now

 

Nanjing, Jiangsu Province capital city, is located in the Yangtze River basin, has recently emerged as one of China’s leading producers of IT products, petrochemicals and automobile components. Nanjing is a rarity in China: the ten- times Chinese capital is one of the very few cities where history, urbanization and nature can be captured simultaneously in one photograph.

Yet it remains relatively unexplored by international travellers. To attract more degree-holding young people to work in Nanjing, the city government on March implemented a policy allowing people under 40 to transfer their hukou to Nanjing — if they hold at least a bachelor’s degree. There is no age restriction for people with master’s or doctoral degrees.

The city’s human resources and social security bureau also announced the same month that it would offer students graduating from universities outside the city coming to attend job interviews a subsidy of 1,000 yuan ($160), which one can apply for via the city’s official app.

And earlier this year, the Nanjing government said that professionals undertaking “major strategic projects” in the city would be eligible to apply for subsidies of at least 3 million yuan to put toward buying a home — or, under the same policy, rent a 200-square-meter “talent apartment” free of charge.

5. Xian: the Chinese city at the start of the New Silk Road

new law for cross-border e-commerce - xi'an - cifnews

 

Located in central China, Xi’an is the capital of Shaanxi Province. Over the years its strategic position has created easy conditions for excellent connections in its province and in the entire country. For these reasons, it is not surprising that the city is at the center of the New Silk Road strategy to bring the economic prosperity of the People’s Republic to the undeveloped Western regions.

With a population of 8.5 million, Xian is the largest city in the Shaanxi province, but today, this city is also a base for scientific research, higher education, defense, and other hi-tech industries. Why Xian has some way to go to become an innovation hub?

Here are bases PRC most important aerospace industries, such as Xian Aircraft Industrial Corporation, or those companies that produce aircrafts or spaceships components such as carbon fiber materials. Not only “stars and clouds”, Xian-based engineers are PRC frontrunner for Chinese 5g technology.

Xian Hi-tech Industries Development Zone (XHTZ), established in 1991, was one of the earliest Chinese science parks at the national level, and it is regarded as one of the most successful of the 114 national high-tech zones. Thus, in 2014, the State Intellectual Property Office evaluated and selected the Xian Hi-tech Industries Development Zone as a national intellectual property demonstration zone.

 

 

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