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I recently came across a data compilation on China’s wealthiest cities, and I found it quite interesting. The top ten cities are basically concentrated in the Yangtze River Delta and the Pearl River Delta, reflecting the uneven pace of economic development across these regions.
Let’s first look at a few of the lower-ranked ones. Shaxi has a per capita income of 72,900, and a family of four can reach an annual income of 290,000. This city is close to Hangzhou and Ningbo, and its private economy is especially well developed. The founder of Nongfu Spring and Jack Ma are both from Shaxi—what does that indicate? Xiamen follows closely, with a per capita income of 74,200, which corresponds to an annual income of 297,000 for a family of four. Wealthy people in Fujian especially like to buy property in Xiamen, which has even pushed housing prices to surpass those in Hangzhou and Guangzhou.
Ningbo’s per capita income is 75,000. This city is especially crucial because it has the world’s largest port—Ningbo Port. Saudi oil, Australian iron ore, Indonesian coal, and U.S. soybeans—these global commodities all enter the Chinese market through Ningbo Port. Its industrial output value ranks among the top ten nationwide, and its private economy is also very strong.
Moving upward, Nanjing has a per capita income of 74,800, and its status as the capital of Jiangsu is clearly reflected. Hangzhou has 76,700; relying on its status as the provincial capital, it attracts capital and talent from across the province. Suzhou has 77,500. It once ranked first in global industrial output value and has continued to compete with Shanghai and Shenzhen for a top spot.
Guangzhou has 77,800. Guangdong is the province with the largest GDP in the country, and as the provincial capital, Guangzhou naturally benefits. Shenzhen is even stronger, with a per capita income of 81,100. Huawei, Tencent, BYD, and DJI are all based in Shenzhen. This city is one of only two major technology centers in the world—the other being America’s Silicon Valley.
The last two are Beijing and Shanghai. Beijing has a per capita income of 85,000, while Shanghai is highest at 88,300. These ten wealthiest cities basically represent the highest level of China’s economy, which also explains why so many college graduates want to rush to these places after graduation. If you’re looking for high-paying jobs, these ten cities are the first choice.