– Nanjing’s software and information services industry is poised to exceed one trillion yuan in scale in 2025, marking the city’s first trillion-yuan industrial cluster.
– The breakthrough comes at a critical juncture as Nanjing, with a 2024 GDP of 1.85 trillion yuan, aims to cross the 2 trillion yuan threshold this year, facing tight competition from rivals like宁波 (Ningbo) and青岛 (Qingdao).
– Underlying challenges include a historically weaker private sector compared to coastal peers and a need to transition from traditional state-led industries to innovation-driven growth.
– Strategic opportunities lie in leveraging Nanjing’s strong R&D capabilities and its evolving role as a regional hub under national strategies like the Yangtze River Economic Belt and长三角一体化 (Yangtze River Delta integration).
– The city’s progression highlights a broader shift in Chinese urban development from pure scale expansion to cultivating high-value, globally competitive industrial clusters.
In the high-stakes race among Chinese metropolises, crossing the two trillion yuan GDP threshold has become the definitive marker of elite economic status. For南京市 (Nanjing), long positioned as the closest contender to this coveted club, a pivotal breakthrough has finally arrived. The city’s software and information services industry is projected to surpass one trillion yuan in scale this year, cementing its first trillion-yuan industrial landmark. This achievement is far more than a statistical milestone; it represents a crucial infusion of momentum as Nanjing navigates the final stretch toward its 2 trillion yuan GDP goal. Against a backdrop of intense regional competition and evolving national economic priorities, the emergence of this trillion-yuan industry could redefine Nanjing’s competitive edge and its role within the greater Chinese equity market landscape for global investors.
The Race to 2 Trillion: Nanjing’s Pivotal Economic Crossroads
The narrative of China’s urban development is increasingly written in trillions. As of 2024, nine cities have surpassed the 2 trillion yuan GDP mark, creating a new tier of economic powerhouses.南京市 (Nanjing), with a 2024 GDP of 18500.81 billion yuan, stands as the foremost ‘next-in-line’ candidate. The city had publicly targeted 2025 for achieving the 2 trillion yuan breakthrough, requiring an economic increment of approximately 150 billion yuan this year—a challenging lift given recent growth trajectories.
Benchmarking Against Giants: The Trillion-Yuan Industry Imperative
In the长三角 (Yangtze River Delta) region, hosting a trillion-yuan industry has become table stakes for leading cities.上海 (Shanghai) boasts multiple clusters, including生物医药 (biomedicine), which is expected to join its list of trillion-yuan industries this year.杭州市 (Hangzhou) is on the verge of seeing its视觉智能 (visual intelligence) industry cross the trillion-yuan threshold. Within江苏省 (Jiangsu Province),苏州市 (Suzhou) already has three trillion-yuan industries. The absence of such a cluster had become a glaring gap in Nanjing’s economic portfolio, underscoring the significance of its software industry’s ascent. As华东师范大学城市发展研究院院长曾刚 (Zeng Gang, Dean of the Urban Development Institute at East China Normal University) notes, ‘A trillion-yuan industrial cluster is a core indicator of a city’s industrial competitiveness and the underlying logic for regions vying to create them.’
The Narrowing Lead: Pressure from Pursuing Competitors
The urgency for Nanjing is amplified by cities closing in from behind.宁波市 (Ningbo), with a 2024 GDP of 18147.7 billion yuan, has explicitly aimed for 2 trillion yuan by 2025 and a top-10 national ranking.青岛市 (Qingdao), supported by Shandong Province’s ‘十五五’ (15th Five-Year Plan) proposal to push it toward the 2 trillion yuan tier, recorded a 2024 GDP of 16719.46 billion yuan. ‘With pursuers like Ningbo and Qingdao, Nanjing cannot afford to rely on traditional development thinking to maintain its position among the GDP top ten,’ Zeng Gang emphasized. This competitive pressure makes the successful cultivation of a trillion-yuan industry not just an achievement but a strategic necessity.
Diagnosing the Lag: Structural Hurdles in Nanjing’s Economic Engine
Nanjing’s path to this milestone has been slower than some coastal counterparts, revealing structural characteristics that have shaped its development pace. ‘Compared to Nanjing, coastal cities possess many inherent advantages in industrial development,’ Zeng Gang observed. He pointed to a transitional phase where the cultivation of新兴产业发展 (newly emerging industries) progressed relatively slowly, while traditional sectors like化工 (chemicals) and钢铁 (steel) migrated northward within the province.
The Private Sector Gap: A Comparative Weakness
A primary constraint has been the relative underdevelopment of Nanjing’s民营经济 (private economy). The city’s industrial layout has long been tilted toward state-owned enterprise-dominated sectors. Key data highlights the disparity:
– Number of Private Enterprises (End-2024): Hangzhou (~920,000), Suzhou (~865,000), Nanjing (~650,000).
– Private Economy Share of GDP: Hangzhou and Suzhou both exceed 50%; Nanjing sits at 47.5%.
– Representation in the ‘2025 China Top 500 Private Enterprises’ List: Hangzhou (38 companies), Suzhou (26 companies), Nanjing (8 companies).
This gap is acutely felt in sectors like software, where internet giants often drive innovation. The past public discourse around ‘南京没有大厂’ (Nanjing has no big tech companies) highlighted this private sector void.
Industrial Transition: From Capital-Driven to Innovation-Led
The challenge has been shifting from an economy historically driven by capital-intensive, traditional industries to one powered by智力 (intellectual capital) and场景 (application scenarios). Nanjing’s response includes proactive policy measures. This year, the city introduced the《南京市支持总部经济高质量发展若干措施》 (Several Measures of Nanjing City to Support the High-Quality Development of the Headquarters Economy), offering tangible support across ten areas including enterprise cultivation, recruitment, and talent services. This has attracted regional headquarters from华为 (Huawei),小米 (Xiaomi),阿里巴巴 (Alibaba), and京东 (JD.com), as well as multinationals like达索 (Dassault) and博世 (Bosch).
Unleashing Latent Potential: The Pillars of Nanjing’s Ascent
Policy Innovation: Moving Beyond Traditional Support ModelsThe Trillion-Yuan Industry as a CatalystThe breakthrough in the software and information services sector is a testament to this evolving strategy. The industry’s climb to trillion-yuan scale validates focused policy efforts outlined in documents like the《南京市推进产业强市行动计划（2023—2025年）》 (Nanjing City Action Plan for Advancing a Strong Industrial City (2023-2025)). It serves as a proof-of-concept that Nanjing can cultivate globally significant clusters, directly supporting its ambition to become a示范 (demonstration) model for a升级的中国软件名城 (upgraded China Software City).
Beyond Scale: Nanjing’s Strategic Role in National and Regional Frameworks
Anchoring the长江经济带 (Yangtze River Economic Belt)Building an International Innovation and Logistics HubThe city’s recent市委城市工作会议 (Municipal Party Committee Urban Work Conference) outlined a vision to build an国际城市 (international city) where innovation and culture blend. Core to this is elevating枢纽能级 (hub capacity). Concrete projects are underway to materialize this vision:
– Accelerating the third-phase expansion of南京禄口国际机场 (Nanjing Lukou International Airport).
– Advancing the construction of南京北站 (Nanjing North Railway Station) and南京港 (Nanjing Port).
– The goal is to shape Nanjing into a双向开放的供应链中心城市 (supply chain center city open in both directions), enhancing its role as a链接全球辐射全国 (link connecting the globe and radiating across the nation) node.
Nanjing’s journey from lacking a trillion-yuan industry to celebrating its first in software marks a definitive turning point. The achievement injects critical credibility and momentum into its bid for the 2 trillion yuan GDP echelon. However, the data reveals a race that remains too close to call, with宁波 (Ningbo) and青岛 (Qingdao) applying relentless pressure. For institutional investors and market observers, the key takeaway is that Nanjing’s value proposition is evolving. Success will hinge not on replicating the coastal export-led model but on uniquely leveraging its R&D density, geographic reorientation, and policy agility to foster high-value clusters. The trillion-yuan industry breakthrough is the opening act. The main performance will be measured by how effectively Nanjing integrates this ‘内生动力’ (endogenous momentum) with the ‘外部机遇’ (external opportunities) presented by national strategies, transforming scale into sustainable, innovation-driven economic power. Monitor Nanjing’s next moves in private sector cultivation and hub infrastructure development closely, as they will be leading indicators of its capacity to secure a lasting position among China’s top-tier economic cities.