Core Insights - As of April 29, 2024, 25 out of 27 cities with a GDP of over 1 trillion yuan have reported their Q1 economic data, with only Zhengzhou and Foshan pending [1] - Among the 25 cities, 16 outperformed the national GDP growth rate of 5.4%, with Yantai leading at 6.9% [3] - Shanghai and Beijing are the only two cities to surpass 1.2 trillion yuan in GDP for Q1, with respective totals of 1.27 trillion yuan and 1.22 trillion yuan [4] Group 1: Economic Performance - Yantai, Suzhou, Chengdu, Fuzhou, Hefei, and Nantong all recorded GDP growth rates above 6% [3] - Beijing's fixed asset investment growth rate reached 24.0%, the highest among the reported cities, with high-tech industry investment soaring by 88.9% [4] - Shanghai's social retail sales fell by 1.1% to 405.75 billion yuan, while Beijing's dropped by 3.3% to 345.86 billion yuan [4] Group 2: Competitive Dynamics - Chongqing and Guangzhou are closely competing, with GDPs of 757.48 billion yuan and 753.25 billion yuan respectively, both below the national average [5] - Guangzhou's foreign trade is recovering, with a 30.6% increase in exports, ranking third among the top 50 foreign trade cities [5] - Suzhou and Chengdu showed strong industrial growth, with respective industrial value-added growth rates of 8.6% and 8.1% [5] Group 3: Emerging Contenders - Ningbo's GDP growth of 5.4% positions it as a strong contender, surpassing Tianjin for the first time in total GDP [6] - In Q1, Ningbo's GDP reached 442.05 billion yuan, while Nanjing's was 471.87 billion yuan, indicating a competitive race [6][7] - Wenzhou, Xuzhou, and Dalian are close to the 1 trillion yuan GDP mark, with respective Q1 GDPs of 240.37 billion yuan, 225.17 billion yuan, and 228.03 billion yuan [12] Group 4: Industrial Growth - Hefei and Xi'an led in industrial value-added growth, with rates of 14.0% and 13.3% respectively [10] - Key industries in Hefei, such as automotive and electronics, saw significant growth, contributing to its economic rise [10] - Yantai's manufacturing sector also showed robust growth, with a 11.9% increase in industrial value-added [11]
万亿城市一季报,谁在领跑?
Sou Hu Cai Jing·2025-04-29 15:16