With an annual GDP now topping 400 billion yuan, Tangshan has become the first city in Hebei to join China’s “400 billion yuan club”.

Regarded as the economic major league of Chinese big and medium cities, the 400 billion yuan club currently includes Beijing, Shanghai, Guangzhou, Shenzhen, Suzhou, Tianjin, Chongqing, etc.

Tangshan’s municipal GDP has now reached 430 billion yuan, up 13 percent year on year, announced Tangshan mayor Chen Guoying at the fourth session of the 13th Tangshan Municipal People’s Congress on Wednesday.

He said that many factors had contributed to the achievement. More than 200 projects came into operation or production last year, including the first stage project of Beijing-Tangshan Steel Co under Shougang Group. Caofeidian New District also benefited from total investments of over 100 billion yuan, while Tangshan port became China’s tenth biggest with yearly cargo throughput currently surpassing 200 million tons. The port still has a capacity for a further 40 million tons.

Tangshan economic output reached the 100 billion mark in 2001, increasing to 200 billion yuan in 2005 and reaching 300 billion yuan in 2008, ranking it 19th among Chinese cities. The city is expected to rank among the top ten in the near future, a Tangshan government official said.

Source: chinadaily.com.cn