In the first half of this year, among China's seven largest cities by GDP, Guangzhou ranked first in the growth of investment and consumer spending, third in GDP, but last in local financial revenues.
According to the report submitted by the city's Development and Reform Commission to the city's People's Congress, Guangzhou's GDP in the first half of the year rose 13.6% to RMB 488.601 billion, ranking third after Beijing and Shanghai.
Guangzhou ranked first among the nation's seven largest cities by GDP in terms of growth of investment and consumer spending.
However, Guangzhou lagged behind Beijing, Shanghai, Tianjin, Chengdu, Shenzhen and Suzhou in local financial revenues. This is largely attributable to the fact that Guangzhou contributes the bulk of its financial revenues to national and provincial coffers while retaining a small percentage of the revenues.
During the second half of this year, Guangzhou will initiate a post-Asian Games research program to make arrangements for the job placement of Asian Games workers.
Source: english.gz.gov.cn
