Wuxi, Jiangsu province [Photo/IC]
The per capita GDP of 14 cities in China reached $20,000 in 2019, with Shenzhen, Wuxi and Suzhou taking the top three spots, according to 21st Century Business Herald.
Per capita GDP is an important indicator of a region's economic wellbeing. Shenzhen, the first city in China to record per capita GDP hitting $10,000 in 2007, took only six years to double the number to $22,112 in 2013, and retained its crown in 2019 with country's highest per capita GDP at $29,498. GDP of $20,000 is generally regarded as a threshold for a developed economy.
Wuxi in East China's Jiangsu province saw per capita GDP of $26,100, ranking second in the list and empowered by strong manufacturing industry pushing.
According to 21st Century Business Herald, per capita GDP is not only related to the total economic volume and the number of employees, but also is closely tied to industrial structure. The higher the added value industry can generate, the higher the per capita output will be.
