Shenzhen ranks sixth in economic competitiveness worldwide

On October 30th (“World Cities Day”) the Global Urban Competitiveness Forum convened in Guangzhou. At the meeting, the National Academy of Economic Strategy (NAES), Chinese Academy of Social Sciences (CASS) and the UN–Habitat jointly released The Global Urban Competitiveness Report 2017-2018.

　　The Report states that Shenzhen ranks sixth in the "Economic Competitiveness Ranking" after measuring the "Economic Competitiveness" of 1007 cities in the world. Shanghai, Guangzhou and Beijing rank 14, 15 and 20 respectively.

　　Beijing, Shanghai, Guangzhou and Shenzhen not only have the most prosperous buildings, the most diverse inclusiveness, but also are the field of dreams for many people wanting to change their lives. "Economic competitiveness" is the ranking for existing stocks, but for young people, the incremental part (the future) is even more important. The Report also provides an indicator for reference - "Sustainable Competitiveness", which is the sustainability of global competitiveness in the future.In the future rankings of Sustainable Competitiveness (except for Beijing being higher than the indicators of Economic Competitiveness) the sustainable competitiveness indicators of other cities are lower than the rankings of their economic competitiveness and Shenzhen ranks 35th in the world.

　　Technology and finance are dominating the global economy and occupying the main part of global value chain, especially information technology companies that are showing increasingly more influence. Technological center cities are occupying an increasingly higher status in the global city.

　　Taking into account factors such as the number of most valuable brands from each city in 2017 and changes in the past ten years, the Report also sets up the future Rankings of "New Global Cities". Among the top 50 cities, Beijing, Shenzhen, Shanghai and Guangzhou are all listed, but for "New Tier-A Cities", only Hangzhou makes the list.