According to a report on the development of CBD, three of China's big cities -- Guangzhou, Shenzhen and Beijing -- have taken the top three spots in the country's Central Business District (CBD) development in terms of economic scale and GDP contribution.
Data of over 20 cities' CBD areas were analyzed in five areas - economy, industry, smartness, innovation and openness - and found that these areas had attracted many large knowledge-intensive and innovative international companies with strong capital control ability over the past 30 years.
All the top three cities' CBD areas made over 100 billion yuan ($15.28 billion) GDP contributions in 2015, according to the latest statistics available, Shan Jingjing, an analyst with the institute,told chinadaily.com.cn.
Guangzhou Tianhe CBD, with 242.70 billion yuan in GDP, dethroned Shenzhen Futian CBD with 122.70 billion yuan more GDP contribution, followed by Beijing CBD with 111 billion yuan GDP in 2015, according to Shan.
In terms of tax payment, Shenzhen Futian CBD ranked first, followed by Beijing and Guangzhou Tianhe CBD areas, the report said.
CBD area is the center of a city's economic development and reflects the vitality of economic development in a region and the whole country. Most of international financial institutions and large international companies' headquarters are located in CBD areas. Development of Chinese cities' CBD areas will have a great impact on the country's economic development, Shan said. (Source: China Daily)
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