Based on the official data released by local statistical authorities, Shanghai once again topped the list with 2.73 trillion yuan (about US$411 billion) of GDP in the first three quarters of 2020, despite a year-on-year drop of 0.3%. Beijing ranked second with 2.58 trillion yuan of GDP, up 0.1% year on year based on comparable prices. Shenzhen, with its 1.98 trillion yuan of GDP, came in third, up 2.6% year on year.

While the list’s top three have remained unchanged since 2012, the rest of the ranking has more or less seen a reshuffle compared with the same period last year. Specifically, Chongqing took the place of Guangzhou as the fourth, and Nanjing has made the cut for the first time with a 3.3% year-on-year economic growth, the highest amongst the Top 10 cities. In addition, Wuhan’s economy showed a strong rebound as the decline continues to slow, ranking 10th on the list.

No.10: Wuhan

According to the Information Office of Wuhan Municipality on Oct. 27, the city’s GDP in the first three quarters of 2020 is close to 90% of the same period last year (1.15 trillion yuan), with the decline narrowing by 9.1 percentage points compared with the first half of 2020. 

Its imports and exports from January to September totaled 182.89 billion yuan, a year-on-year increase of 11.4%. The total fixed-asset investment in the city has seen positive growth for three months in a row, and the growth of its consumer price index (CPI) has narrowed by 0.9 percentage points.