In addition to domestic demand pull, where is the secret of continued high growth in the first tier cities?


In addition to domestic demand pull, where is the secret of continued high growth in the first tier cities?

Original title: where is the secret of continuous high growth in first tier cities?

The most important reason is that innovation driven is becoming the main driver of economic transformation and new and old energy conversion in cities.

Xie Liangbing

Recently, the city's economy has been published for half a year. From the data point of view, China's urban economic development in the first half of the first half of the year showed a distinct pattern of polarization: the north and Guangzhou depend on the new economy and other innovation driven by the new economy. The high speed rail siphon effect leads to the obvious advantages of the provincial capital in the second line cities, and the first degree is strengthened; the three lines and the following cities are severely stall and the gap is widened.

Unlike last year, data from first tier cities are very bright. The public data showed that in the first half of 2018, the GDP of Shanghai, Beijing, Shenzhen and Guangzhou were 1 trillion and 555 billion 815 million yuan, 1 trillion and 405 billion 120 million yuan, 1 trillion and 100 billion 938 million yuan and 1 trillion and 65 billion 298 million yuan respectively. From the perspective of growth rate, Shenzhen has the fastest growth rate of 8%, and Shanghai, Beijing and Guangzhou are 6.9%, 6.8% and 6.2% respectively.

It is worth mentioning that, at the beginning of 2016, Kitakami Hirofuka has successively opened the pace of reduction in population control and urban relief, but the economic growth can remain so high that it can be said to be more than expected.

How can the first tier cities maintain high growth in the first half of the year? Or why does the first tier cities still maintain such a big advantage in this round of urban competition? The most important reason is that innovation driven is becoming the main driver of economic transformation and new and old energy conversion in cities. Competition among cities has also changed to the competition between traditional industries and new economy.

Domestic demand, one of the "troikas" of China's economic development in the past, remains the backbone of economic growth in the first half of this year. Statistics from the National Bureau of Statistics show that China's economic structure continued to optimize in the first half of the year, with final consumer spending contributing 78.5% to economic growth. For the first tier cities where the middle class is gathered and the consumption escalation is strong, the pulling effect of domestic demand is more obvious.

In the semi annual reading of the four first tier cities, the new retail industry in which the stimulating effect of domestic demand is concentrated is an important factor to promote the recovery of economic growth.

For example, in Shanghai, for-profit services represented by new retail formats grew at double-digit rates in the first half of this year. In the first half of this year, Beijing achieved a total consumption of 1 trillion and 199 billion 170 million yuan and an increase of 8.1%. Among them, service consumption grew by 11.3%, accounting for 55%, total retail sales of consumer goods grew by 4.4%, online retail sales grew by 22%, and new retail and new consumption developed rapidly.

The new economy represented by new retail is an important manifestation of innovation driven and high-speed growth of the first tier cities. Since the reform and opening up, China's economic development is mainly driven by factors such as labor, capital, land, natural resources and so on, and now it has come to a period of transformation to innovation driven. The first half of the first tier cities' economic performance has become an exemplary achievement driven by innovation.

For example, in the first half of the year, Shenzhen was approved by the State Council as an innovative demonstration area for the national sustainable development agenda; the State Key Laboratory of tumor chemical genomics, the third generation semiconductor research institute and other major scientific research institutions have been established, and the Silicon Valley science and Technology Innovation Center in the Shenzhen Bay has been established. These are all forces that support the rapid growth of the local economy.

The increase in scientific research also brings about the potential of Guangzhou's new products. New energy vehicles and driverless innovative enterprises have become key industries in Guangzhou.

For these front-line cities, which have already entered the reduction development, we should continue to persist in innovation drive, speed up the transformation of new and old kinetic energy, accelerate the improvement of supply quality, and provide innovation to release the potential of consumption. At the same time, by promoting the transformation of scientific and technological achievements, cultivating more new technologies, new industries, new formats and new models, we will inject new impetus into the steady economic growth throughout the year.

In order to realize innovation driven, it is the test of the public service type role control of local government, that is, how to make a strong supplement in the aspects of employment, education, medical treatment, residence and pension. And these are precisely the advantages of the first-tier cities which have entered the late stage of industrialization, and they are bound to become the path that other cities follow.

Xie Liangbing, President of the standard ranking City Research Institute

Editor in responsibility: Huo Yuang


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