Shanghai rises on competitive cities list
By Pan Xiaoyi |
June 26, 2010, Saturday
|
Print Edition
Print Edition
SHANGHAI is rising fast on the list of world's most competitive cities.
It climbed nine places to 37th -- the only Chinese mainland city in the world's top 50, the Chinese Academy of Social Sciences, which compiled the list, said yesterday.
The other two Chinese cities in the top 50 are Hong Kong (10th) and Taipei (38th).
The report, which comes out every two years, assessed 500 major cities for six factors, including economic growth, number of patent applications, the multi-national enterprise index and green gross domestic product.
Cities in China and other emerging markets are rising rapidly, challenging traditional top-class cities in developed countries, the report said.
A total of 69 Chinese cities were among the 500 most competitive cities in the world. New York, London and Tokyo ranked as the world's top three.
Among the top 10 fastest-growing cities, nine are from China, including coastal city Weihai in Shandong Province and inland city Erdos in the Inner Mongolia Autonomous Region.
Shanghai did well in terms of international influence, financial strength and quality of enterprises.
"Overall, cities in the emerging countries show outstanding performance in growth prospects with a good investment environment, which will further intensify the competition among the world's cities," the report said.
Innovation weak
However, the report noted that cities in developing nations were still weak in innovation compared with Western cities.
"Innovation played an increasingly important role in accelerating development and lifting city competitiveness," the research house said.
The report said more resources would flock to these emerging entities and give development more of a boost.
The report also compared global functional cities such as the financial centers, shipping hubs and manufacturing bases.
Financial and shipping centers in Asia cities have great growth momentum but still need improvement in the quality of development, according to the report.
China intends for Shanghai to transform itself into a global financial hub and shipping center by 2020.
Earlier this year, Shanghai topped a list of China's most competitive regions by the CASS for the fourth time for strengths in areas such as financial strength, education, science and technology, investment environment and government efficiency.
The current report points to future development and growth potential in quality of enterprises, local demands, education and public policies.
It climbed nine places to 37th -- the only Chinese mainland city in the world's top 50, the Chinese Academy of Social Sciences, which compiled the list, said yesterday.
The other two Chinese cities in the top 50 are Hong Kong (10th) and Taipei (38th).
The report, which comes out every two years, assessed 500 major cities for six factors, including economic growth, number of patent applications, the multi-national enterprise index and green gross domestic product.
Cities in China and other emerging markets are rising rapidly, challenging traditional top-class cities in developed countries, the report said.
A total of 69 Chinese cities were among the 500 most competitive cities in the world. New York, London and Tokyo ranked as the world's top three.
Among the top 10 fastest-growing cities, nine are from China, including coastal city Weihai in Shandong Province and inland city Erdos in the Inner Mongolia Autonomous Region.
Shanghai did well in terms of international influence, financial strength and quality of enterprises.
"Overall, cities in the emerging countries show outstanding performance in growth prospects with a good investment environment, which will further intensify the competition among the world's cities," the report said.
Innovation weak
However, the report noted that cities in developing nations were still weak in innovation compared with Western cities.
"Innovation played an increasingly important role in accelerating development and lifting city competitiveness," the research house said.
The report said more resources would flock to these emerging entities and give development more of a boost.
The report also compared global functional cities such as the financial centers, shipping hubs and manufacturing bases.
Financial and shipping centers in Asia cities have great growth momentum but still need improvement in the quality of development, according to the report.
China intends for Shanghai to transform itself into a global financial hub and shipping center by 2020.
Earlier this year, Shanghai topped a list of China's most competitive regions by the CASS for the fourth time for strengths in areas such as financial strength, education, science and technology, investment environment and government efficiency.
The current report points to future development and growth potential in quality of enterprises, local demands, education and public policies.
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