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Shanghai's GDP in 2009 surpasses Hong Kong

By Qiang Xiaoji (chinadaily.com.cn)
Updated: 2010-03-08 15:15

Shanghai's GDP in 2009 exceeded that of Hong Kong for the first time after it surpassed Hong Kong as China's biggest port and stock-market operator, the China Economic Net reported.

Shanghai's GDP grew 8.2 percent year-on-year to 1.49 trillion yuan ($218.26 billion) in 2009, whereas Hong Kong saw its GDP decreased to HK$ 1.61 trillion ($207.39 billion) in the year, according to statistics released by the municipal government and the special administrative region government, respectively.

Economists said the current gap between the two economies might not be permanent as Hong Kong was affected by the global financial crisis.

Shanghai's rise is not a threat, Hong Kong Chief Executive Donald Tsang told reporters on the sidelines of the ongoing Two Sessions, adding that the most important thing is for both sides to seek development opportunities.

Hanzheng, mayor of Shanghai and a deputy to the National People's Congress, also said Shanghai and Hong Kong were brothers seeking cooperation when responding to a question about whether the two Disneylands will be competing.