Forbes: Guangzhou ousts Shanghai as China's top city for business

15:06, October 29, 2010      

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Guangzhou has replaced Shanghai to top this year's Forbes list of the most business-friendly cities in China, which was released on Oct. 24. The other nine cities on the top-10 list are: Shanghai, Shenzhen, Hangzhou, Suzhou, Beijing, Wuxi, Ningbo, Nanjing and Tianjin.

Guangzhou's newly-gained No. 1 position on the list of best commercial cities is justified, according to Forbes, by the fact that the city, as one of the important foreign investment destinations in China since the reform and opening-up process was launched, has become the fastest-growing city by taking the advantage of its geographic proximity to Hong Kong. A number of multinationals, such as P&G, Colgate-Palmolive and HJ Heinz, have manufacturing facilities in Guangzhou.

Forbes pointed out that Guangzhou is more competitive than Shanghai in terms of the passenger and cargo transportation services.

By Jia Li, People’s Daily Online


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