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Shanghai reclaims top status
By Richard Fu |
00:00 UTC+8 December 14, 2012
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Print Edition
Print Edition
SHANGHAI has again become the best city for business on Chinese mainland in a Forbes ranking, reclaiming its spot by beating off competitors in export-oriented Guangdong Province that have been hit hard by the global slowdown.
Shanghai, which was ranked fourth in 2011, regained the top position after a three-year absence. The city won because it scored highly in the sub-indexes of city scale and innovation, but only garnered 61st for the strength of its private sector.
Shanghai also benefitted because some cities in Guangdong, the manufacturing powerhouse, fell. Shenzhen, last year's runner-up, was third while Guangzhou, last year's winner, was ranked fourth.
"Export-oriented cities like Shenzhen and Guangzhou suffered a slump in ranking because of the impact of the slow recovery in the global economy," Forbes China said.
The magazine ranked candidates in several categories including consumption power, costs, transport, the size of the private economy and innovation capability. The ranking aims to guide investors in choosing investment destinations and for officials to better position their cities and improve the business environment.
Hangzhou, capital of Zhejiang Province, was runner-up. Jiangsu Province has the most number of cities - 18 - in the top 100 list while Zhejiang has 12 and Guangdong has 11. The ranking also showed inland regions playing an important role in China.
Shanghai, which was ranked fourth in 2011, regained the top position after a three-year absence. The city won because it scored highly in the sub-indexes of city scale and innovation, but only garnered 61st for the strength of its private sector.
Shanghai also benefitted because some cities in Guangdong, the manufacturing powerhouse, fell. Shenzhen, last year's runner-up, was third while Guangzhou, last year's winner, was ranked fourth.
"Export-oriented cities like Shenzhen and Guangzhou suffered a slump in ranking because of the impact of the slow recovery in the global economy," Forbes China said.
The magazine ranked candidates in several categories including consumption power, costs, transport, the size of the private economy and innovation capability. The ranking aims to guide investors in choosing investment destinations and for officials to better position their cities and improve the business environment.
Hangzhou, capital of Zhejiang Province, was runner-up. Jiangsu Province has the most number of cities - 18 - in the top 100 list while Zhejiang has 12 and Guangdong has 11. The ranking also showed inland regions playing an important role in China.
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