In 2023, the local finance of China's major cities will maintain a steady growth momentum as a whole, if you take 100 billion yuan as the standard, a total of 17 cities above the prefecture level in the country have exceeded this standard, and another 4 cities have exceeded 90 billion yuan and are about to enter the 100 billion threshold. These 21 cities can be unified into China's local fiscal 100 billion cities, and 8 of them have reached the 200 billion mark. So, which cities are shortlisted, and which ones are more prominent?
In line with GDP rankings, Shanghai, Beijing and Shenzhen also rank among the top three in China in terms of local revenue, and their rankings are also completely consistent. Moreover, there is an obvious echelon gap between the three cities, with Shanghai being the highest, reaching 8312500 million yuan, followed by Beijing, with an income of 6181100 million yuan, Shenzhen again, annual income 4112800 million yuan, and the gap between the three cities is about 200 billion yuan. If you look at the year-on-year growth rate, Shanghai is the highest at 93%；Beijing is slightly lower at 82%。Shenzhen's performance is relatively average, with less than 3%, which is also the lowest among the top 10 cities.
After Beijing, Shanghai and Shenzhen, the local fiscal revenue of three cities has exceeded 200 billion yuan and reached about 250 billion yuan. Among them, Hangzhou's annual local fiscal revenue increased by 6% year-on-year8% to 2616800 million yuan, ranking fourth in the country for many years. Compared with the country's 8th GDP ranking, Hangzhou's fiscal revenue generation capacity is undoubtedly better. Suzhou, the strongest prefecture-level city, increased by 5% year-on-year5%, fiscal revenue 2456800 million yuan, ranking 5th in the country after Hangzhou, while Suzhou's GDP ranking is temporarily 6th in the country, and the ranking is almost the same.
Chongqing, the only municipality directly under the central government in the west, has seen its annual local fiscal revenue increase by 16% year-on-year, reaching the 240 billion mark, and the gap with Suzhou has narrowed significantly from more than 20 billion yuan to less than 2 billion. If this growth momentum can be maintained, Chongqing is very likely to surpass Suzhou in the next one or two years, and even challenge Hangzhou's fourth position in the country.
There are 6 cities that have initially entered the 200 billion or are about to hit the 200 billion threshold. Among them, although Tianjin's GDP ranking has been squeezed out of the top 10 in the country, its fiscal revenue has exceeded 200 billion yuan for the first time, still ranking 7th in the country, which may be the advantage of being a municipality directly under the central government.
Below Tianjin, Guangzhou and Chengdu, the annual local fiscal revenue has reached more than 190 billion yuan, and it is inevitable to exceed 200 billion yuan in the coming year. Chengdu, in particular, has a year-on-year growth of 12%, second only to Chongqing among the top cities, and is even expected to surpass Guangzhou in the coming year. Comparatively speaking, Guangzhou may be affected by the first finance, fiscal revenue in the national ranking is much inferior to the GDP ranking, this year has been overtaken by Tianjin, next year may drop another place.
Ningbo, Nanjing, Wuhan three cities are still far from 200 billion still have a certain gap, of which Ningbo performance is relatively higher, currently close to 180 billion, beating Wuhan and Nanjing, which are among the top 10 in terms of GDP, and ranking among the top 10 in the country in terms of fiscal revenue. Nanjing and Wuhan are two cities in between, both of which are just over 160 billion yuan. These two cities are also the most likely to challenge the top 10 cities in the country, but it is still difficult to surpass Ningbo at present.
The next cities ranked 13-17 in the country have remained basically stable, and they are basically in line with the GDP ranking. Among them, Qingdao's total amount is slightly higher, taking the lead to reach more than 130 billion. Changsha remains above 120 billion, and Wuxi and Zhengzhou are also about to enter 120 billion. From the comparison with GDP rankings, only Wuxi and Changsha have reversed their rankings, but the absolute gap between the fiscal revenues of the two cities is basically negligible.
Relatively speaking, Jinan, which ranks 19th in terms of GDP, has exceeded 100 billion yuan in local fiscal revenue for two consecutive years, becoming the 17th city in the country with 100 billion fiscal revenue.
In addition to the 17 cities mentioned above that have exceeded 100 billion fiscal revenue, there are 4 cities that are currently and above the 90 billion mark, which is only a glimmer away from the 100 billion fiscal target. Among them, the most eye-catching performance is undoubtedly Xi'an, with an annual local fiscal increase of 14 percent year-on-year1% to 951900 million yuan, even surpassing the three major cities of Ordos, Xiamen and Hefei, ranking from 21st to 18th. Compared with the GDP ranking of 22nd, Xi'an's fiscal revenue ranking is undoubtedly better.
After Xi'an, Xiamen also performed well. This city, which ranks only 32nd in terms of GDP, has an annual local fiscal revenue of 93.2 billion yuan, surpassing more than 10 cities in front of it in terms of GDP, ranking among the top 20 in the country in terms of fiscal revenue, and is one of the cities with the most significant difference between the two rankings.
The other two cities that are expected to rush 100 billion yuan, Ordos is also a group of big dark horses, this resource-based city located in the Inner Mongolia prairie, GDP ranks 47th in the country, but the local fiscal revenue is almost among the top 20 in the country, and the gap between the previous cities is only a millimeter, and the next few years may be among the top 20 in the country. Relatively speaking, Hefei's performance is decent, with GDP ranking 20th in the country, fiscal revenue also ranking 20th, and the year-on-year growth rate in 2023 is only more than 2%, and it will be difficult to hit 100 billion in the coming year.
Which cities are you optimistic about in the future that are expected to hit the 100 billion fiscal target?
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