Beijing, Shanghai and Shenzhen remain the top three cities in terms of owning total capital or total deposit balance of its financial institutions, according to latest statistics collected by China Business News.
As super first tier cities in China, total capital in Beijing and Shanghai both surpassed 10 trillion yuan (around 1.5 trillion USD), far bigger than other cities.
Guangzhou, which is usually mentioned after Beijing and Shanghai has seen slower growth rate in these years and it has been surpassed by Shenzhen.
Statistics show the gap between Guangzhou and Shenzhen is widening as Guangzhou owns fewer financial institutions and is slow in the development of the real estate sector and also in emerging industries.
The data also shows central and western Chinese cities like Hefei, Zhengzhou, Wuhan and Changsha are growing with faster speed than other ones.
On the list, Chengdu, Hangzhou, Chongqing, Tianjin, Nanjing and Suzhou rank sixth to tenth place.
Analysts say that the rank not only reflects the cities' GDP but also is closely connected with the power and influence of the cities.
(CRIENGLISH.com March 24, 2016)