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Current State of Economic Cooperation
In 2023, the GDP of the Yangtze River Delta region surpassed 25 trillion yuan, accounting for a quarter of the national GDP. As a financial center, Shanghai’s financial services radiate throughout the Yangtze River Delta region, with the trading volume of the Shanghai Stock Exchange reaching 200 trillion yuan in 2023, driving a wave of IPOs in Jiangsu, Zhejiang, and Anhui. According to Xinhua News Agency, Jiangsu Province added 150 new listed companies in 2023, an increase of 20%. These companies include well-known high-tech enterprises such as Huada Semiconductor in Nanjing, whose revenue grew by 35% in 2023.
According to Science and Technology Daily, the number of high-tech enterprises in the Yangtze River Delta region has exceeded 50,000, accounting for 30% of the national total. Zhejiang Province’s e-commerce and internet industry have developed rapidly, making Hangzhou a leading city in e-commerce in China, with e-commerce transactions exceeding 3 trillion yuan in 2023. Alibaba’s transaction volume during the “Double Eleven” shopping festival in 2023 reached 498.2 billion yuan, setting a new record. Since 2018, the total mileage of newly built and reconstructed high-speed rail lines in the Yangtze River Delta region has exceeded 2000 kilometers, reducing the commuting time from Shanghai to major cities such as Nanjing, Hangzhou, and Hefei to within one hour. In 2023, the completion of the second phase of the Shanghai-Suzhou-Nantong Railway reduced the commuting time between Suzhou and Nantong to 30 minutes.
In terms of educational cooperation, Shanghai Jiao Tong University, Nanjing University, Zhejiang University, and other universities jointly established the Yangtze River Delta University Alliance. According to People’s Daily, in 2023, the number of joint research projects among member universities of the alliance reached 500, covering multiple frontier fields such as artificial intelligence and biomedicine. According to statistics from the Shanghai Municipal Government, the total foreign direct investment (FDI) in the Yangtze River Delta region reached 120 billion U.S. dollars in 2023, an increase of 15%. Tesla’s Gigafactory in Shanghai achieved an annual production of 500,000 vehicles in 2023 and plans to expand new production bases in Jiangsu and Zhejiang.
Industrial Chain Integration Strategy
According to data from the National Bureau of Statistics of China, the total industrial output value of the Yangtze River Delta region reached 15 trillion yuan in 2023, accounting for 35% of the national total, with the proportion of high-end manufacturing increasing continuously. Taking the new energy vehicle industry as an example, Shanghai, Jiangsu, Zhejiang, and Anhui cooperate closely in production, research and development, and sales, greatly enhancing the industrial competitiveness of the Yangtze River Delta region. As an automobile manufacturing hub, Shanghai is home to leading companies such as Tesla and SAIC Group, with a new energy vehicle production of 600,000 units in 2023. Suzhou and Wuxi in Jiangsu Province focus on the development of new energy vehicle parts industry, with Suzhou’s power battery production accounting for 25% of the national total in 2023. Hangzhou and Ningbo in Zhejiang Province lead in new energy vehicle intelligence and internet technology, with Hangzhou’s smart driving system shipments increasing by 50% year-on-year in 2023.
According to Economic Daily, in 2023, the number of semiconductor companies in the Yangtze River Delta region reached 2000, with a total output value exceeding 500 billion yuan. Wuxi and Suzhou in Jiangsu Province focus on chip manufacturing and packaging testing, with Wuxi’s chip manufacturing output value growing by 30% in 2023 to reach 120 billion yuan. Ningbo and Jiaxing in Zhejiang Province perform outstandingly in the supply of materials and equipment, with Ningbo’s semiconductor material exports reaching 20 billion yuan in 2023, an increase of 25%.
In 2023, the total output value of the biopharmaceutical industry in the Yangtze River Delta region reached 1.5 trillion yuan, accounting for 40% of the national total. Shanghai is the core of biopharmaceutical research and development, with top research institutions such as Fudan University and Shanghai Jiao Tong University. Nanjing and Suzhou in Jiangsu Province have strong capabilities in biopharmaceuticals and medical device manufacturing, with Suzhou’s medical device exports exceeding 10 billion U.S. dollars in 2023. Hangzhou’s traditional Chinese medicine output value reached 30 billion yuan in 2023, an increase of 20%.
Coordinated Development of Urban Agglomerations
According to reports, in 2023, the GDP of the Yangtze River Delta urban agglomeration reached 28 trillion yuan, accounting for 30% of the national total. The core urban agglomerations of the Yangtze River Delta, including Shanghai, Hangzhou, Nanjing, and Hefei, divide and cooperate in their respective advantageous fields to achieve optimal resource allocation. As a financial and shipping center, Shanghai’s added value of the financial industry reached 1.2 trillion yuan in 2023, accounting for 20% of the city’s GDP. Hangzhou excels in the digital economy and e-commerce, with the added value of the digital economy exceeding 1.5 trillion yuan in 2023, accounting for 50% of the city’s GDP. Nanjing, as a science and education center, saw its R&D expenditure account for 4.5% of its GDP in 2023, ranking among the top in the country. Hefei performed outstandingly in manufacturing and technological innovation, with the number of high-tech enterprises in the city exceeding 3000 in 2023.
In 2023, the completion of the second phase of the Shanghai-Suzhou-Nantong Railway reduced the commuting time between Suzhou and Nantong to 30 minutes, and the high-speed rail line between Shanghai and Hefei also reduced the travel time between the two places to 2 hours. In the medical field, Shanghai’s high-quality medical resources radiate to surrounding cities through telemedicine and counterpart support. In 2023, Shanghai’s Ruijin Hospital cooperated with hospitals in Suzhou and Wuxi, with over 100,000 remote consultation cases. The joint training projects among member universities of the alliance exceeded 200, covering frontier fields such as artificial intelligence and biomedicine. The average concentration of PM2.5 in the Yangtze River Delta region dropped to 35 micrograms per cubic meter in 2023, a year-on-year decrease of 10%. With rich historical and cultural heritage, various cities utilize their unique resources to jointly create regional tourism brands. The Yangtze River Delta urban agglomeration received 500 million domestic and foreign tourists in 2023, with tourism revenue exceeding 500 billion yuan.
Transportation Integration Path
According to data from the National Bureau of Statistics of China, the total investment in transportation infrastructure in the Yangtze River Delta region reached 500 billion yuan in 2023, accounting for 10% of the national total. By 2023, the high-speed rail operating mileage in the Yangtze River Delta region exceeded 5000 kilometers, forming an efficient railway network centered on Shanghai, radiating to surrounding major cities. The completion of the second phase of the Shanghai-Suzhou-Nantong Railway reduced the commuting time between Suzhou and Nantong to 30 minutes. The high-speed rail line between Shanghai and Hefei also reduced the travel time between the two places to 2 hours. The Yangtze River Delta region opened 200 kilometers of new urban rail transit lines in 2023, bringing the total mileage to 3000 kilometers. Shanghai’s urban rail transit total mileage reached 800 kilometers. Nanjing and Hangzhou are also actively expanding their rail transit networks, with Nanjing adding 50 kilometers of subway lines and Hangzhou adding 40 kilometers in 2023.
By 2023, the total mileage of expressways in the Yangtze River Delta region reached 12,000 kilometers, with 500 kilometers of new mileage. Taking the Shanghai-Jiaxing-Hangzhou Expressway as an example, this important traffic artery connecting Shanghai, Jiaxing, and Hangzhou has had a daily traffic flow of 200,000 vehicles since its full opening in 2023. The cargo throughput of Shanghai Port reached 750 million tons, and the container throughput reached 47 million TEUs, ranking first in the world for several consecutive years. The cargo throughput of Ningbo-Zhoushan Port also exceeded 1.1 billion tons, becoming the world’s largest port by cargo throughput. The port cooperation in the Yangtze River Delta region, with Shanghai Port and Ningbo-Zhoushan Port achieving information sharing and business linkage, has increased the cargo transfer efficiency between the two places by 20%.
In terms of air transportation, in 2023, the passenger throughput of Shanghai Pudong International Airport and Hongqiao International Airport reached 80 million and 40 million respectively. Hangzhou Xiaoshan International Airport and Nanjing Lukou International Airport’s passenger throughput also reached 40 million and 30 million respectively.
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