Overview
Located on the Pearl River about 120 km (75 mi) north-northwest of Hong Kong and 145 km (90 mi) north of Macau, Guangzhou has a history of over 2,200 years and was a major terminus of the maritime Silk Road, and continues to serve as a major port and transportation hub, as well as one of China's three largest cities. Long the only Chinese port accessible to most foreign traders, Guangzhou was captured by the British during the First Opium War. No longer enjoying a monopoly after the war, it lost trade to other ports such as Hong Kong and Shanghai, but continued to serve as a major transshipment port. Due to a high urban population and large volumes of port traffic, Guangzhou is classified as a Large-Port Megacity, the largest type of port-city in the world.
Guangzhou is at the heart of the most-populous built-up metropolitan area in China mainland, which extends into the neighboring cities of Foshan, Dongguan, Zhongshan, Shenzhen and part of Jiangmen, Huizhou, Zhuhai and Macao, forming the largest urban agglomeration on Earth with more than 46.7 million inhabitants, and part of the Pearl River Delta Economic Zone. Administratively, the city holds subprovincial status and is one of China's nine National Central Cities. In the late 1990s and early 2000s, nationals of sub-Saharan Africa who had initially settled in the Middle East and Southeast Asia moved in unprecedented numbers to Guangzhou in response to the 1997/98 Asian financial crisis. The domestic migrant population from other provinces of China in Guangzhou was 40% of the city's total population in 2008. Together with Shanghai, Beijing and Shenzhen, Guangzhou has one of the most expensive real estate markets in China. At the end of 2018, the population of the city's expansive administrative area was estimated at 14,904,400 by city authorities, up 3.8% from the previous year. There is a rapidly increasing number of foreign temporary residents and immigrants from Southeast Asia, the Middle East, Eastern Europe and Africa. This recent population influx has led to it being dubbed the "Capital of the Third World".
Nowadays, in modern commerce, Guangzhou is best known for its annual Canton Fair, the oldest and largest trade fair in China. For three consecutive years (2013–2015), Forbes ranked Guangzhou as the best commercial city in mainland China. Guangzhou is highly ranked as an Alpha- (global first-tier) city together with San Francisco and Stockholm. Guangzhou also ranks 21st globally and 8th in the whole Asia and the Pacific (behind Shanghai, Tokyo, Hong Kong, Singapore, Beijing, Shenzhen and Dubai) in the 2020 Global Financial Centers Index (GFCI). Guangzhou ranks 10th in the world and 5th in China (after Beijing, Shanghai, Hong Kong and Shenzhen) in terms of the number of billionaires according to the Hurun Global Rich List 2020.
