Life of Guangzhou - Shanghai Tops Forbes Best Commercial Cities List for the First Time

On September 7, 2009, Forbes Chinese version released its sixth Forbes Best Commercial Cities in Chinese mainland list. A total of 100 cities in 27 provinces / municipalities / autonomous regions were selected. Shanghai, Guangzhou, Shenzhen rank the top three. 16 cities in Jiangsu Province appear on the list, making Jiangsu a promising land for business. Zhejiang and Shandong provinces have 14 cities in the list respectively.

The Forbes Best Commercial Cities List studied 652 cities in Chinese mainland. It collected and did research of basic data of about 220 cities whose GDP surpassed 34 billion yuan in 2008. Key indicators include the talent index, index of city size, operating costs index, consuming capacity index, economic vitality index, innovation index, passenger index and freight index. These indicators reflect the dynamics and trends of urban development.

In this year's list, among the top 10, cities in the Pearl River Delta take three: Guangzhou (No. 2), Shenzhen (No. 3) and Foshan (No. 9). As China's largest economic province, as well as a large trade province whose ratio of dependence on foreign trade hits up to 155%, Guangdong is one of the areas worst affected by the international financial crisis. This is clearly reflected in Dongguan's being kicked out of the top 10 list.

Yangtze River Delta economic zone is also significantly affected by this financial crisis. In 2008, Jiangsu, Zhejiang and Shanghai's GDP respectively reached 3 trillion yuan, 2.1 trillion yuan and 1.37 trillion yuan, accounting for nearly one-fifth of national GDP and their growth rate respectively reached 12.5%, 10% and 9.7%. However, since the global financial crisis late last year, its adverse impact is becoming obvious. From January to July 2009, growth rate of industrial added value in Jiangsu, Zhejiang and Shanghai was only 12.4%, 1.0% and -4.4%.

Results of this year's list are: a total of 30 cities in Jiangsu, Zhejiang enter this year's list, but as many as 10 cities dropped out of the list. In the list 25 cities' ranking drop, and only five cities ranking rise.

However, apart from Chengdu which still ranks 12 as in last year, ranking of cities in West China, such as Chongqing (No. 24), Xi'an (No. 31), Kunming (No. 60) and others rise significantly.

[More China News]