Tianjin ranks No. 5 in GDP in the first quarter of this year, falling behind of Suzhou, Shanghai and Beijing, according to a statistics announced by local governments across the country.
Tianjin's GDP grew 13.8 percent in the first three months, reaching 267 bllion yuan.
The top 10 cities are Shanghai, Beijing, Guangzhou in Guangdong Province, Suzhou in Jiangsu Province, Tianjin, Chongqing, Shenzhen in Guangdong, Chengdu in Sichuan Province, Wuhan in Hubei Province and Wuxi in Jiangsu. Among those, Shenzhen’s GDP growth rate was the lowest.
The growth rates of cities such as Tianjin, Chongqing and Chengdu all exceeded 10 percent, while the growth rates for Shanghai, Beijing and Guangzhou were all lower than 8 percent. Although Suzhou had overtaken Shenzhen in the third quarter of 2004 and 2011, Shenzhen could always overtake Suzhou at the end of the year. However, it was the first time that Tianjin and Chongqing had overtaken Shenzhen to be the nation’s fourth- and fifth-largest economies respectively.
According to relevant report,the global economic recession and sharp export decrease may be the main reason for the slowdown.
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Tianjin ranks No. 5 in GDP in the first quarter of this year, falling behind of Suzhou, Shanghai and Beijing, according to a statistics announced by local governments across the country.
