section_path: Economy
section_name: Economy
paragraph_text: Economy
  
  As of 2022, Beijing's nominal GDP was CN¥ 4.16 trillion ($619 billion in nominal, $1.016 trillion in PPP), about 3.44% of the country's GDP and ranked 13th among province-level administrative units; its nominal GDP per capita was US$28,258 (CN¥190,059) and ranked the 1st in the country. It also ranks the tenth largest in the metropolitan economies in the world.
  
  Due to the concentration of state owned enterprises in the national capital, Beijing in 2013 had more Fortune Global 500 Company headquarters than any other city in the world. As of August 2022, Beijing has 54 Fortune Global 500 companies, more than Japan (47), the third-place country after China (145) and the United States (124). Beijing has also been described as the " billionaire capital of the world". In 2020, Beijing is the fifth wealthiest city in the world, with a total wealth amounts to $2 trillion. Beijing is classified as an Alpha+ (global first-tier) city by the Globalization and World Cities Research Network, indicating its influence in the region and worldwide and making it one of the world's Top 10 major cities. In the 2021 Global Financial Centres Index, Beijing was ranked as having the sixth-most competitive financial center in the world and fourth-most competitive in the whole Asia & Oceania region (behind Shanghai, Hong Kong and Singapore).
  
  As of 2021, Beijing was ranked first globally in terms of " Global City Competitiveness " in the 2020–2021 Global Urban Competitiveness Report jointly released by the Chinese Academy of Social Sciences (CASS) and the United Nations Programme for Human Settlements (UN-Habitat).
  
  * Per-capita GDP is based on mid-year population.