China’s county economies are experiencing unprecedented growth, with 59 counties surpassing a GDP of 100 billion yuan ($13.77 billion) in 2023, according to a recent report by market research firm CCID Consulting.
The report highlights the significant progress of county-level economies in China, emphasizing their crucial role in the nation’s overall economic development. In 2013, only nine counties and county-level cities had achieved this GDP milestone. The dramatic increase to 59 counties in just a decade underscores the rapid pace of economic advancement in these regions.
These 59 counties collectively contributed a whopping 9.6 trillion yuan to China’s GDP, accounting for 7.6 percent of the national total. Major enterprises within these counties generated over 13 trillion yuan in industrial output, representing more than 10 percent of the country’s total industrial production.
Top Performing Counties
Leading the pack are Kunshan, Jiangyin, and Zhangjiagang—all located in Jiangsu Province—as the top three county-level economies in terms of GDP for 2023. Kunshan’s GDP exceeded 500 billion yuan, while Jiangyin wasn’t far behind with 496.05 billion yuan. Jinjiang from East China’s Fujian Province and Changshu from Jiangsu Province also secured spots among the top-performing counties.
Jiangsu Province shone particularly brightly, securing five positions among the top ten in the ‘Top 100 Counties for Investment Competitiveness of 2024.’ Zhejiang Province claimed two spots, further highlighting the economic dynamism of China’s eastern regions.
Driving National Prosperity
The remarkable growth of county economies not only reflects regional prosperity but also serves as a foundation for China’s national economic development. Counties serve as basic units of the economy, and their progress is essential for understanding the overall health and trajectory of the nation’s economy.
The surge in county-level GDP signifies enhanced industrial capacity, increased investment competitiveness, and improved living standards for residents. It’s a testament to effective local governance and successful economic policies aimed at stimulating growth at the grassroots level.
A Look Ahead
As China’s counties continue to evolve and expand economically, their contribution to the national GDP is expected to rise further. The focus on high-quality development and investment competitiveness suggests a promising future for these regions.
With more counties poised to join the ‘100-billion GDP county club,’ China’s holistic approach to fostering economic growth across various levels is set to bolster its position as a global economic powerhouse.
Reference(s):
Reimagining Growth: High-quality development of China's county economy
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