Chongqing’s GDP Surpasses Guangzhou’s in First Half of 2020

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The latest round of regional GDP data indicates that the economic output of the central Chinese mega-city of Chongqing surpassed that of Guangzhou in the first half of 2020.

The Guangdong-province capital of Guangzhou released its GDP figures on 27 July, pointing to first half GDP of 1.096829 trillion yuan, for a YoY decline of 2.7%.

By contrast Chongqing’s GDP for the first half was 1.120983 trillion yuan, for a YoY rise of 0.8%, making it the fourth largest municipal economy in China.

Chongqing authorities said that the reason for the positive reading despite the economic impacts of COVID-19 was efforts to encourage investment projects and drive cross-border trade, as well as a re-warming of the tech sector, manufacturing sector, finance and logistics.

The first half GDP of Wuhan – where COVID-19 first emerged in China – fell by 19.5% YoY, although local authorities have yet to provide more detailed data.

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