Shanghai beats New York to become world's 2nd most attractive city

08:13, February 24, 2010      

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The list of the "world's most attractive cities" was published February 21, with China's Shanghai ranking second, London ranking first, and New York City in the U.S. dropping from third place to tenth place.

According to a report published by "Rusnews" February 22, this list was created by the Paris Ile de France Capitale Economique with help from KPMG. The list was based on investigations by 500 merchants from different countries and investment data from 2009. The data was based on various indexes that KPMG had been analyzing in the past 5 years. In interviewees' opinions, the most important standards for assessing a city are political stability, legal safety and the city's economic condition.

London ranked first not only because all its indexes ranked first, but also because it is deeply loved by merchants. 42 percent of interviewees said London is the most attractive city. China's Shanghai ranked second, but some aspects of Shanghai, such as the amount of modern research centers and the amount of office buildings have exceeded those of London. In addition to Shanghai, 2 other Chinese cities also ranked in the top-10 with Hong Kong in third place and Beijing in fifth place. The report said that investors were quite willing to invest in China in the past several years. Representatives of the commercial circle believe that over the next several years, other Asian cities such as Bombay in India and Singapore may also jump into the top places on the list and push out the list's European cities.

The report also said that New York City in the U.S. was previously ranked third on the list before the financial crisis broke out, but this time, it fell to tenth place.

Besides London, only 1 other European city – Paris, was in the top-5. There are 2 reasons: First, the amount of investment in Paris did not decrease during the financial crisis and second, merchants generally believe that Paris is quite attractive because of its steady politics, high living standard and advanced infrastructure.

By People's Daily Online
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