CBT 100 Forum focuses on integrated regional development of the Yangtze River Delta

The integrated regional development of the Yangtze River Delta summit of the China Business Top 100 (CBT100) Forum took place in Shanghai on Dec 6.

Shen Hanyao, chairman of the CBT 100 Forum and dean of the Wharton Economic Institute, proposed construction of the core district of the Yangtze River Delta on a model of "Shanghai plus Suzhou-Wuxi-Nantong" and creation of a pioneering demonstration district of technological innovation industrialization.

Shen pointed out that although Shanghai is the biggest single economic city in China, it still lacks a solid base. Its GDP in 2018 was 3,200 billion yuan ($456.3 billion), accounting for only 3.6 percent of China's. The scale of its GDP is not strong enough to take the lead in the economic development of the Yangtze River Delta, let alone China. The GDP of the surrounding cities of Suzhou, Wuxi and Nantong reached 3,800 billion yuan, exceeding that of Shanghai and accounting for 4.3 percent of China's total. If Shanghai and Suzhou-Wuxi-Nantong were integrated, their GDP would account for 8 percent of China's, paralleling that of New York to the United States, making the region a true national economic center.

Shen Hanyao, chairman of the CBT 100 Forum and dean of the Wharton Economic Institute delivers a speech at the CBT100 Forum in Shanghai on Dec 6. [Photo provided to chinadaily.com.cn]

The first layer is "Shanghai plus Suzhou-Wuxi-Nantong", which can be regarded as the delta's essential core area. Jiaxing and Zhoushan can be added to shape the inner circle of the Yangtze River Delta after gradual development.

The second layer is sub-center urban agglomeration in the delta, including urban agglomeration of Nanjing (including Zhenjiang, Yangzhou, Maanshan and Chuzhou), Hangzhou (including Shaoxing and Huzhou), Ningbo (including Taizhou and Zhoushan) and Yancheng, which will constitute the delta's middle circle.

The third layer is further sub-center urban agglomeration, including Hefei (sub-center city), Wenzhou, Lianyungang and Xuzhou, which will constitute the outer circle of the Yangtze River Delta.