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Shanghai lags Beijing on city competitiveness

(Shanghai Daily)

08:57, March 15, 2012

Shanghai lagged behind Beijing as the second-most competitive city on the Chinese mainland in a ranking released yesterday.

The report, "Hot Spots: Benchmarking Global City Competitiveness," released by the Economist Intelligence Unit, put Shanghai in 43rd spot worldwide while Beijing placed 39th. Shenzhen was 52nd in the global ranking, making it the third-most competitive city on the Chinese mainland.

Some 120 cities were assessed on 31 indicators grouped under eight categories - economic strength, human capital, institutional effectiveness, financial maturity, global appeal, physical capital, environment and natural hazards, and social and cultural character.

European and United States cities are the world's most competitive, with New York rated first and London second. But Asia's economic rise is also reflected on the list.

"No city can hold an absolute advantage in every dimension that could matter to a prospective investor," the report said.

Chinese cities dominated the economic growth index, but lagged behind in the environmental protection and cultural development indexes.

China's Tianjin, Shenzhen and Dalian topped the "economic strength" category, which emphasizes a city's overall GDP, growth rate and relative income. Shanghai was seventh.

"Shanghai's investment growth and GDP growth are lower than the national average, as it has been a very mature city in economic development compared with some second- and third-tier cities," said Chen Xian, an economics professor at Shanghai Jiao Tong University.

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