Tuesday, 15 September 2015

10 Chinese Cities to Watch

Of all the Chinese cities, Chengdu is considered to have a booming economy
It's interesting to discover Chengdu is considered to have the most successful economy in China, according to a US-based think tank, considering such factors as job growth, foreign investment and high value-added industries.

Shanghai and Tianjin were second and third respectively, while the Chinese capital was 13th in the Milken Institute study.

Shanghai is in second place in the Milken Institute study
Chengdu, the capital of Sichuan province was praised for its "human capital, central government support, established industries in high-end aerospace and aircraft design, and a more recently developed electronics manufacturing sector".

The study said mainland cities were developing in two ways: For Shanghai and Tianjin it is about urbanization, industrial clustering and infrastructure investment bolstering larger regional economies.

The other way, due to the slowdown in economic growth, was the focus on technology, private investment and consumption.

This is the first time the institute has ranked mainland cities, assessing 266 at the prefecture level and above, and divided them into two categories -- 34 first and second-tier cities, and the rest as third-tier cities.

Tianjin comes in third with lots of potential for growth
The study didn't just look at economic growth, but also job and wage growth, gross regional production, foreign direct investment and the strength of high value-added industries.

Chengdu may have done well in the study due to having several respected universities and has lower labour costs.

Interestingly Shenzhen just made number 10 on the list, and seven of the top 10 third-tier cities were in Jiangsu province, which has a strong transportation network of airports, highways and high-speed rail links.

The top 10 cities are:

1. Chengdu
2. Shanghai
3. Tianjin
4. Dalian
5. Nanjing
6. Hefei
7. Xiamen
8. Changchun
9. Chongqing
10. Shenzhen

There should be lots of information to be gleaned from this study and potential investors and entrepreneurs should take note.

2 comments:

  1. Have you been to Chengdu? If so, care to comment about its quality of life and how you'd rate the tourist experience there?

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    1. Hi YTSL -- I haven't been to Chengdu! I've been to Chongqing to go on the Yangtze cruise before they flooded it... People who have gone recently like it, say it has a laid-back vibe, new hotels popping up there. And of course the pandas!

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