The Brookings Institution, an American think tank, released recently the Global Metro Monitor 2018. With a growth rate of 7.2% and 5.9% in per capita GDP and employment respectively, Chengdu ranked third in the world and topped all of its Chinese counterp

The Brookings Institution, an American think tank, released recently the Global Metro Monitor 2018. With a growth rate of 7.2% and 5.9% in per capita GDP and employment respectively, Chengdu ranked third in the world and topped all of its Chinese counterparts.

Based on the data from Oxford Economics, the report employs two indicators including per capita GDP and employment growth rate to assess the comprehensive economic performance of 300 global largest metropolises in the past few years.

According to the report, global metropolitan economies take the lead in global economic aggregate, employment and population with "disproportionate" dominance - the 300 largest metropolitan economies in the world account for nearly half of global output. Researchers from the Brookings Institution describe these metropolises with high concentration of resources in terms of "sub-national dynamics" to highlight their unique role in creating global economic and societal trends.

Analysis shows that, Beijing and Shanghai are no longer the major powerhouses for China's economic growth, while other fourteen cities represented by Chengdu are emerging as new economic growth grounds.

Chengdu is a case in point. The city's rapid rise is largely attributed to its fast-evolving development in infrastructure and key industrial fields. Apart from the Chengdu Shuangliu International Airport, the Chengdu Tianfu International Airport currently under construction will be a welcoming addition as Chengdu's second airport. It is slated to open to traffic in 2020. By then, Chengdu will become the third city in the Chinese mainland to have two international airports. Moreover, the China Railway Express (Chengdu-Europe Express) has now established a transportation network covering 14 domestic cities and 16 foreign cities, making for a significant traffic hub connecting Asia and Europe.

As to industrial structure, service and electronic information are coming to the fore as Chengdu's pillar industry. According to latest data, in the first half of this year, the added value of Chengdu's service industry hit RMB382.76 billion, representing a year-on-year increase of 9.5% and accounting for 55.7% of its GDP. Meanwhile, Chengdu's electronic information industry is also shaping well as a bellwether in helping this city establish a presence in the global economic map. By 2020, Chengdu is expected to achieve a revenue of over RMB1 trillion from the core business of the electronic information sector.

The report concluded that, judging from either urban size or urban scope, China is experiencing the unprecedented urbanization, which also ensures that its cities will play a role in developing and defining its growth mode in infrastructure, technology and economy that is based on China's realities. Due to the important role of Chengdu and other metropolises in global economy, their constant change will exert a crucial impact on global economy, society and environment.

City’s Annual Growth in Tourism Ranks 5th Globally

According to the latest research report on the economic impact of the travel & tourism sector released by the World Travel & Tourism Council (WTTC) on October 26, Chengdu’s yearly growth in the travel and tourism industry ranks 5th worldwide, at a rate of 11.2%.

Nov 01, 2017

Chengdu tops list as China's happiest city

Chengdu came top this year in Oriental Outlook magazine's annual ranking of the 10 happiest cities in China.

Dec 12, 2017

Chengdu on GFCI 23 Rankings Again

Z/Yen Group, a London-based commercial think tank, in collaboration with the China Development Institute (CDI), a think tank located in Shenzhen, south China's Guangdong Province, published the 23rd edition of the Global Financial Centers Index (GFCI 23) on March 26.

Mar 30, 2018

Chengdu Tops China’s New First-tier Cities Again

According to the latest business impact rankings released April 26 by CBNweekly, Chengdu held top spot on China’s 15 new first-tier cities rankings for consecutive 3 years.

May 02, 2018

Chengdu ranks 3rd among job seekers in China

New analysis by Southwestern University of Finance and Economics and the Center for China and Globalization suggests Sichuan's capital, Chengdu, has become the third most popular city in China among young people looking for work, behind only Beijing and Shanghai.