Beijing ranks first in total market value of listed firms

Beijing ranks first among all the cities in the Chinese mainland in terms of market value of all listed companies, Securities Times reported on Monday.

With a 27.18 trillion yuan ($4.19 trillion) market value for its 659 listed companies, China's capital city of Beijing has taken a leading role on the list of cities with the highest total market value of listed companies.

South China's Shenzhen and the country's financial center Shanghai took the second and third spots with a total market value of 16.36 trillion yuan and 12.42 trillion yuan, respectively.

Data showed the total market value of listed companies in the Chinese mainland reached 116 trillion yuan at the end of 2020, up nearly 29 trillion yuan from the end of 2019.

Meanwhile, the private economy has played an essential role in the development of the urban economy, according to the report.

Among the top five cities on the list in 2020, Shanghai performed the best, with its total market value increasing over 53 percent, narrowing the gaps with Beijing and Shenzhen.

Wuxi in East China's Jiangsu province entered the top nine for the first time with a total market value of 1.39 trillion yuan at the end of last year.

The market value of North China's Tianjin reached 1.2 trillion yuan during the same period, paving the way into the top 10 on the list.

The stock market is considered a barometer of the economy, and the number, scale and competitiveness of a city's listed companies reflect the city's comprehensive competitiveness.