Which Chinese city will be the biggest loser in 2020? It’s not Wuhan

Which Chinese city will be the biggest loser in 2020? It’s not Wuhan

Tianjin, one of China’s four municipalities, is expected to drop out of the country’s top 10 cities in terms of economic size this year for the first time since records began.

The municipality’s economic output in the first three quarters of 2020 was 1 trillion yuan (US$151.8 billion), only a third of the size of Shanghai and Beijing, the country’s two largest cities, and below regional economic hubs such as Hangzhou and Nanjing.

Chongqing, China’s third largest municipality, reported economic output of 1.78 trillion yuan in the same period, according to data released by local authorities.

Though the accuracy of municipal economic data in China is always viewed sceptically, the rankings still play a major role in guiding domestic money flows, from property developers to bond investors.