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Shenzhen ranks No. 1 in economic competitiveness

10/28/2020 Source: Szdaily.com

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Shenzhen ranks No. 1 in comprehensive economic competitiveness in 2020 among Chinese cities, according to a report jointly released by the Chinese Academy of Social Sciences (CASS) and Economic Daily.

In terms of sustainable competitiveness of Chinese cities, Shenzhen ranks No. 2, following Hong Kong, the report shows.

The report, made by researchers led by Ni Pengfei, assistant president to Economic Strategy Research Institute under CASS, surveyed and compared 291 cities in China around indexes in five subcategories under the comprehensive economic and sustainable competitiveness.

In comprehensive economic competitiveness, Shenzhen is followed by Hong Kong, Shanghai, Beijing and Guangzhou. Suzhou, Taipei, Nanjing, Wuhan and Wuxi took places 6th to 10th. In sustainable competitiveness, Hong Kong, Shenzhen, Taipei, Shanghai and Beijing took the first five places. Guangzhou, Suzhou, Nanjing, Qingdao and Wuhan rounded out the top 10.

In the subcategories, Shenzhen takes first place in local element competitiveness and economic vitality, second place in environment resilience, fourth place in business environment, No. 5 in global connection competitiveness, No. 6 in tech innovation, No. 8 in business environment competitiveness and No. 10 in living environment competitiveness.

In terms of overall layout, the layout of metropolis circles and incremental economic competitiveness are two major reasons leading to differences in competitiveness. The overall economic competitiveness in China is considered strong in the east and the south, weak in the west and the north. Competitiveness is seen as rising in the east and south, stable in the west and declining in the north.

In regional development, the competitiveness in the south is getting stronger, the north is getting weaker and the central and eastern areas are becoming more integrated. The metropolis circles headed by a central city, or several central cities, has become the backbone for the urban comprehensive economic competitiveness of Chinese cities, the report shows. The competitiveness of city clusters in the central and southern areas near Bohai Sea in Liaoning Province is much lower than the city clusters at the mouths of the Yangtze and Pearl rivers. The city clusters in Central China are on the rise.

The competitiveness among the first- and second-tier cities has become stronger due to small differences.

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