The latest official data from the Chinese central bank indicates that the Yangtze River Delta region accounts for over one fifth of China’s national GDP.
A report released by the People’s Bank of China (PBOC) via its official WeChat account on 6 June indicates that in 2019 the GDP of the Yangtze River Delta was 23.7 trillion yuan (approx. USD$3.35 trillion) following YoY growth of 6.4%, which was 0.3 percentage points ahead of the national growth rate.
The Yangtze River Delta’s GDP accounted for 23.9% of the national total.
The Yangtze River Delta is a triangular urban conurbation encompassing the financial hub of Shanghai, as well as the adjacent parts of southern Jiangsu province and northern Zhejiang Province.
PBOC said that in 2020 the Chinese government would further advance the “Yangtze River Delta Region Integrated Development Plan Outline” (长江三角洲区域一体化发展规划纲要) first issued in 2019.
2019 saw the establishment of the “Financial Services Yangtze River High-quality Integrated Development Cooperative Mechanism” (金融服务长三角高质量一体化发展合作机制) by the Shanghai office of PBOC, as well as the subsequent creation of a “Yangtze Delta Financial Data and Economic Operating Information Issuance Platform” (长三角金融数据和经济金融运行情况发布平台).