Nanchang and Economic Trends
Nanchang is the capital city of Jiangxi province and one of the central cities of urban agglomeration in the middle reaches of the Yangtze River. It is located in the north-central part of the province and is surrounded by the Jiuling Mountains on the west and the Poyang Lake on the east. With a population of 6 million and an area of 7,194 square kilometers, it has jurisdiction over 3 counties and six districts.
Nanchang is an important node city for the co-construction of the Belt and Road, an important central city of the Yangtze River Economic Belt, a strategic pivot city for the rise of Central China, and a core city of the great Nanchang Metropolis Circle. The city is the main agricultural production base of the province. Other main industries include aircraft manufacturing, automobile manufacturing, metallurgy, electro-mechanics, textile, chemical engineering, Traditional Chinese Medicine, and pharmaceuticals.
In 2021, the GDP reached 665 billion RMB, up 8.7% compared to the previous year, while the GDP per capita amounted to 92,600 RMB. The total value of Nanchang’s international trade reached 118 billion RMB in 2021, with the exports amounting to 69 billion RMB and the total value of imports to 49 billion RMB.
The Chinese City Tier System consists of a system of tiers used by analysts to classify Chinese cities and rank them in a hierarchy. Cities in different tiers reflect differences in consumer behaviour, income level, population size, consumer sophistication, infrastructure, talent pool, and business opportunity.