While Beijing is still basking in the afterglow of the Olympics, Forbes and the Economist have been looking further afield, and have (added to the ranks of those who have ) ranked the business attractiveness of China’s bigger cities.
From Forbes (via China.org.cn):
“Hangzhou was named the best place to do business in China for a fifth consecutive year in a Forbes survey…Shanghai came in at No 2, with Beijing remaining in sixth position for the second straight year. Wuxi was third, Nanjing fourth and Ningbo fifth.
Forbes China short-listed 194 mainland cities from a pool of 652 candidates with an annual GDP above 19 billion yuan in 2006.
Of the top 42 cities, 10 are from Jiangsu province, nine are from Zhejiang and seven are from Guangdong. Cities in the Yangtze River Delta rated well, despite the gloomy global economic outlook, the survey said.
…The Yangtze River Delta region was represented by Shanghai and another 23 cities from Zhejiang, Jiangsu and Anhui…The survey looks at the quality of the labor force, business costs, market size and capitalization to find the top business cities in the country.
From The Economist:
“…Shanghai tops an overall ranking of 44 Chinese cities that were compared in five key areas—economic performance, market opportunities, labour market, infrastructure and environment. Hard on its heels come fast-growing Guangzhou (top for infrastructure) and the capital, Beijing (home to the best labour market). The top 15 also includes large cities focused on the booming domestic market, such as Tianjin and Chengdu.
Cities with lower external trade exposure have performed well during the recent slowdown in global growth, and are likely to continue to do well over the next decade as a maturing Chinese economy becomes less dependent on exports for growth.
While the rankings differ in their detail, the clear message is that, just as the China story has moved on from being just about low-cost exports to being about added value and domestic consumption, those safe, comfortable havens of Beijing, Shanghai and Guangzhou increasingly represent the tip of the (fast-growing) iceberg. And people are actually going to these far off places to do business – Dragonair now flies to 20 destinations in the mainland, and smart new hotels are everywhere, whether it’s the Hilton in Hefei, the Sheraton in Shenyang, or…well, you get the idea.
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