One widely praised aspect of our country globally is the stability of our policies, which has led to tremendous success in our society and economy. However, the downside is that sometimes, due to significant changes in the country, certain policies persist and affect us. For instance, among similar cities like Beijing, Shanghai, Guangzhou, and Shenzhen, the fiscal revenue retention ratio in Guangzhou and Shenzhen is noticeably lower than that of Shanghai and Beijing. In fact, Guangzhou's retention ratio is also lower than that of Nanjing and Hangzhou. The excessive extraction of resources is a key reason why 15 out of 21 cities in Guangdong have a per capita GDP lower than the national average; there's insufficient investment, and even Zhongshan, once one of the Four Little Tigers of Guangdong, now has a GDP lower than the national average. Additionally, the eastern region's support for the western region has led to some supported cities being poorer than those providing support. All of this is a legacy of historical policies.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content.See T&Cs.