The Guangdong province capital of Guangzhou could see its permanent population rise to more than 20 million in a little over two decades’ time, on the back of the region’s tech and manufacturing economy.
According to the “2040 Guangzhou Municipality Population Forecast Report” released by the Guangzhou Academy of Sciences the Guangdong province capital remains one of China’s fastest growing first-tier cities.
Guangzhou’s permanent population broke through the 14 million threshold in 2016 to reach 14.0435 million in total, for a year-on-year increase of 542,400.
The report points out that over the past two years an increasing number of multinational corporation have invested in Guangzhou-based projects, including Foxconn, Cisco Systems and GE, expediting the growth of the city’s tech sector.
The Guangzhou Academy of Social Sciences further claims that Guangzhou’s GDP is expected to break through the 2 trillion yuan (approx. USD$310 billion) threshold in 2017, putting it close to on par with other major economies such as Hong Kong, Israel and Singapore.