Press Releases in Hong Kong

Shanghai tops national list in competitiveness, HK ranked 3rd

Ginkgo trees are seen in East China's Shanghai on Dec 9, 2020. (XINHUA)

Shanghai has topped a national economic competitiveness list while Hong Kong ranked third, according to the 19th edition of the China Urban Competitiveness Report.

The report was jointly issued by the National Academy of Economic Strategy of the Chinese Academy of Social Sciences and the China Social Sciences Press on Tuesday.

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Among the top 10 cities are Shanghai, Shenzhen, Hong Kong, Beijing, Guangzhou, Suzhou, Taipei, Nanjing, Wuhan and Wuxi

The report conducted an evaluation study on 291 cities in China in terms of comprehensive competitiveness this year. Among the top 10 are Shanghai, Shenzhen, Hong Kong, Beijing, Guangzhou, Suzhou, Taipei, Nanjing, Wuhan and Wuxi, with three of these leading cities located in the Guangdong-Hong Kong-Macao Greater Bay Area.

Shanghai surpassed Hong Kong and Shenzhen to become the highest-ranking city again this year.

Ni Pengfei, chief researcher of the report as well as an assistant dean at the National Academy of Economic Strategy, conducted the study together with cross-Straits experts in the field.

According to the report, the comprehensive economic competitiveness of cities, as the cornerstone of urban development, measures the strength of economic development, increment and efficiency. It is the decisive force of current and short-term economic performance, as well as the key foundation for future and long-term development.

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The researchers also measured sub-indexes for hard investment environment, global connectivity and social harmony. Shanghai ranked first in all three, according to the report.

In addition, Shanghai made the top five for local factors and economic vitality, while ranking among the best cities for sustainability, soft investment environment, innovation and environmental resilience, said the report.