Shanghai sits in good company
By Zhang Fengming |
May 5, 2011, Thursday
|
Print Edition
Print Edition
SHANGHAI ranks first in economic clout among 10 emerging markets but the city's ranking for overall competitiveness falls to No. 19 out of 26 cities globally, according to a study by PricewaterhouseCoopers and the Partnership for New York City yesterday.
Shanghai leads 26 cities worldwide in both greenfield and capital foreign direct investments and is also a strong player in domestic market capitalization at No. 5 - just below London and above Hong Kong.
"The results are very welcome," said Nora Wu, PwC China Lead Partner for Shanghai. "The study shows Shanghai is moving in the right direction strategically and achieving success on a range of policy issues. But we also see areas, like ease of doing business and higher education, where the city has room to grow to lead even more in China and the world."
Of the 26 major cities globally, including New York, London, Paris, Sydney and Tokyo, Shanghai is ranked No. 7 in economic clout.
For overall competitiveness the city, however, still has a long way to go as it comes in at No. 19 out of the 26 cities.
Shanghai scored poorly in ease of doing business, health, safety and security, demographics and livability. The city ranked last for ease of doing business and tied at the bottom in terms of demographics and livability.
Globally, New York led the study. It is followed closely in the top five by Toronto, San Francisco, Stockholm and Sydney - cities noted for quality of life and balance than global business dominance.
The study sourced data from the World Bank and the International Monetary Fund; National Statistics in the UK and the Census Bureau in the United States; and commercial data providers.
The data were collected during the second and third quarters of 2010. In most cases, the data used refer to 2009 and 2010.
Shanghai leads 26 cities worldwide in both greenfield and capital foreign direct investments and is also a strong player in domestic market capitalization at No. 5 - just below London and above Hong Kong.
"The results are very welcome," said Nora Wu, PwC China Lead Partner for Shanghai. "The study shows Shanghai is moving in the right direction strategically and achieving success on a range of policy issues. But we also see areas, like ease of doing business and higher education, where the city has room to grow to lead even more in China and the world."
Of the 26 major cities globally, including New York, London, Paris, Sydney and Tokyo, Shanghai is ranked No. 7 in economic clout.
For overall competitiveness the city, however, still has a long way to go as it comes in at No. 19 out of the 26 cities.
Shanghai scored poorly in ease of doing business, health, safety and security, demographics and livability. The city ranked last for ease of doing business and tied at the bottom in terms of demographics and livability.
Globally, New York led the study. It is followed closely in the top five by Toronto, San Francisco, Stockholm and Sydney - cities noted for quality of life and balance than global business dominance.
The study sourced data from the World Bank and the International Monetary Fund; National Statistics in the UK and the Census Bureau in the United States; and commercial data providers.
The data were collected during the second and third quarters of 2010. In most cases, the data used refer to 2009 and 2010.
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