Economy

The current economy of Nanjing, is dominated by the service industries, accounting for about 60 percent of the GDP of the city, and financial industry, culture industry and tourism industry are the top three. Industries of information technology, energy saving and environmental protection, new energy, smart power grid and intelligent equipment manufacturing have become the pillar of the industries. Big civilian-run enterprise include Suning Commerce, Yurun, Sanpower, Fuzhong, Hiteker, 5stars, Jinpu, Tiandi, CTTQ Pharmaceutical, Nanjing Iron and Steel Company and Simcere Pharmaceutical. Big state-owned firms include Panda Electronics, Yangzi Petrochemical, Jinling Petrochemical, Nanjing Chemical, Jincheng Motors, Jinling Pharmaceutical, Chenguang and NARI. The city has also attracted foreign investments. Multinational firms such as Siemens, Ericsson, Volkswagen, Iveco, A.O. Smith, and Sharp have established their offices, and a number of multinationals such as Ford, IBM, Lucent, Samsung and SAP have established research center here. Many China-based leading firms such as Huawei, ZTE and Lenovo have key R&D institutes in the city. Nanjing is an industrial technology research and development hub, hosting many R&D centers and institutions, especially in areas of electronics technology, information technology, computer software, biotechnology and pharmaceutical technology and new material technology.

In recent years, Nanjing has been developing its economy, commerce, industry, as well as city construction. In 2013 the city's GDP was RMB 801 billion (3rd in Jiangsu), and GDP per capita (current price) was RMB 98,174(US$16041), an 11 percent increase from 2012. The average urban resident's disposable income was RMB 36,200, while the average rural resident's net income was RMB 14,513. The registered urban unemployment rate was 3.02 percent, lower than the national average (4.3 percent). Nanjing's Gross Domestic Product ranked 12th in 2013 in China, and its overall competence ranked 6th in mainland and 8th including Taiwan and Hong Kong in 2009. In 2004, Nanjing ranked sixth in China's Economic Center Positioning Index, after Beijing, Shanghai, Guangzhou, Shenzhen, and Tianjin. In 2008, the Headquarters Economy Development Capacity ranked the city fifth in China, behind Beijing, Shanghai, Guangzhou, and Shenzhen. In 2014 China's regional central cities (excluding Beijing and Shanghai) competitiveness evaluation, Nanjing was second only to Shenzhen and Guangzhou. In 2015, Nanjing ranked fifth in China's investment attractive cities, closely following Beijing, Shanghai, Guangzhou, and Shenzhen. In August 2020, Nanjing ranked among China's top ten GDP in the first half of the year. In 2019, Nanjing's GDP was 1403,015 billion yuan, ranking 11th in the country, an increase of 7.8% over the previous year. The per capita GDP is 152,886 yuan, ranking second in China's municipalities, sub-provincial cities and provincial capitals, second only to Shenzhen, and the provincial capital ranking first. In 2021, Nanjing's GDP reached 1,6355.32 billion yuan.