Top 10 Chinese cities with strongest consumption ability

chinadaily.com.cn | Updated: 2019-07-18 06:40

China's financial hub Shanghai has the strongest consumption ability in the country, according to a report by Chinese financial news outlet Yicai.

The capital city of Beijing came in second, followed in third place by Guangzhou in South China's Guangdong province on the list of top 10 Chinese cities with the strongest consumption ability.

The list was formulated on the basis of 40 major Chinese cities' total retail sales of consumer goods, an important indicator of a city's consumption ability.

Shanghai's total retail sales of consumer goods in 2018 reached 1.27 trillion yuan ($185 million), up 7.9 percent year-on-year. Online retail sales of consumer goods saw a 15.8 percent year-on-year growth to 150.67 billion yuan last year, accounting for 11.9 percent of the total, according to data from the Shanghai Municipal Statistics Bureau.

During the same period, Beijing's total retail sales of consumer goods grew 2.7 percent to 1.17 trillion yuan, becoming the only two members of the trillion-yuan club together with Shanghai.

As a center for commerce, transportation, logistics, education and medicine in South China, Guangzhou boasts many professional retail markets and its total retail sales of consumer goods hit 925.6 billion yuan last year.

Let's take a look at the top 10 Chinese cities with the strongest consumption ability.

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