Beijing's CBD (Photo/pixabay.com)

The market value of listed companies in all Chinese cities totaled more than 85 trillion yuan (about $12.2 trillion) at the end of 2019. Among them, Beijing's 597 listed companies had a combined market value of 23.8 trillion yuan, ranking first in the country.

The total market value of listed companies in China increased 40 percent from 60 trillion yuan at the end of 2018.

When all types of companies were included in the calculation, the market value of all listed companies in Beijing ranked first nationwide at the end of 2019. When central enterprises were excluded, the market value of all listed companies in Shenzhen city ranks first, with 396 listed companies having a combined market value of 12.1 trillion yuan.

Shanghai ranked third nationwide, with 460 listed companies worth 7.9 trillion yuan at the end of last year.

Thanks to the surge in market value of Alibaba, China's largest online commerce company, last year, the total market value of listed companies in Hangzhou city of eastern China exceeded 6 trillion yuan, a record high.

Among other new first-tier cities, the total market value of listed companies in Qingdao and Kunming both saw growth rates of more than 50 percent.