Bei­jing’s op­por­tu­nity rank­ing 19th in world

China Daily (USA) - - BUSINESS - By CAI XIAO caix­iao@chi­nadaily.com.cn

Bei­jing ranked 19th in the world’s top cities in terms of op­por­tu­ni­ties, stand­ing out for eco­nomic clout, but fac­ing the chal­lenge of high costs, ac­cord­ing to a re­port by Price­wa­ter­house­Coop­ers on Thurs­day. While Lon­don ranked first, Hong Kong and Shang­hai placed 9th and 21st re­spec­tively.

The PwC re­port on the cities of op­por­tu­nity pro­vided bal­anced bench­mark­ing of the so­cial and eco­nomic health of 30 of the world’s lead­ing cities by mea­sur­ing the cities’ per­for­mance against 10 in­di­ca­tors, in­clud­ing in­tel­lec­tual cap­i­tal and in­no­va­tion, qual­ity of life, trans­porta­tion and in­fra­struc­ture, health, eco­nomic clout and cost.

It showed that Bei­jing ranked 19th in the over­all rank­ing, even though it ranked third in in­di­ca­tors of its role as a “gate­way” and eco­nomic clout and also made sig­nif­i­cant im­prove­ment in in­di­ca­tors of in­tel­lec­tual cap­i­tal, in­no­va­tion and tech­nol­ogy readi­ness.

“Bei­jing re­mained among the three global lead­ers in eco­nomic clout, high­light­ing its eco­nomic prow­ess,” said Jin Jun, PwC China strat­egy con­sult­ing part­ner.

How­ever, there was no im­prove­ment for Bei­jing in the cost in­di­ca­tor, in which it re­mained 30th.

The re­port showed that de­spite the cost of liv­ing be­ing rel­a­tively low in Bei­jing, cost of busi­ness oc­cu­pancy, cor­po­rate tax rate, pur­chas­ing power and af­ford­abil­ity of rent, left room for im­prove­ment.

“But the mid­dle class of Bei­jing is in­creas­ing fast, which will im­prove the high cost con­di­tions of the city,” said Jin.

In ad­di­tion, Bei­jing ranked in the last 10 places for health, safety and se­cu­rity, sus­tain­abil­ity and nat­u­ral en­vi­ron­ment, and ease of do­ing busi­ness, in­di­cat­ing ar­eas that would ben­e­fit from even more im­prove­ment.

Jin said Bei­jing has prob­lems of air pol­lu­tion and wa­ter re­sources, but they are im­prov­ing through Bei­jing’s tremen­dous ef­forts.

rank of Shang­hai in the world’s top cities in terms of op­por­tu­ni­ties

Shang­hai ranked 21st over­all, achiev­ing sev­enth po­si­tion in the gate­way and eco­nomic clout in­di­ca­tors, but it faces chal­lenges in terms of cost and ease of do­ing busi­ness.

Hong Kong was placed 9th due to its strong show­ing in terms of in­di­ca­tors of ease of do­ing busi­ness, city gate­way and tech­nol­ogy readi­ness. As with Bei­jing and Shang­hai, Hong Kong did see rel­a­tively lower rank­ings in in­di­ca­tors re­lated to qual­ity of life, damp­en­ing the over­all rank­ing.

David Wu, PwC China pub­lic pol­icy and reg­u­la­tory af­fairs leader, said that peo­ple are the fun­da­men­tal driv­ers of ur­ban de­vel­op­ment. Busi­ness and eco­nomic pros­per­ity are no longer the stan­dards for mea­sur­ing the suc­cess or fail­ure of ur­ban de­vel­op­ment.

“Co­or­di­nated eco­nomic and so­cial de­vel­op­ment, prac­ti­cally meet­ing the needs of res­i­dents and pro­vid­ing a good qual­ity of life, have be­come the di­rec­tion of fu­ture de­vel­op­ment for cities of the world, in­clud­ing those in China,” saidWu.

In the over­all rank­ings this year, Lon­don again took the top po­si­tion, hav­ing con­tin­ued to build across its bal­anced ar­ray of strengths. Sin­ga­pore fol­lowed in sec­ond place, ben­e­fit­ing from its mo­men­tum with planned de­vel­op­ment. Toronto ranked third, with qual­ity of liv­ing at its core. Paris, Am­s­ter­dam, New York, Stock­holm, and San Fran­cisco took the fourth to eighth places re­spec­tively.

“The top eight cities ex­celled in three or more cat­e­gories of the 10 in­di­ca­tors and per­formed well in those in­di­ca­tors re­lat­ing to liv­ing stan­dards. This re­flected the de­ci­sive role in ur­ban de­vel­op­ment played to­day by a city’s over­all cal­iber and abil­ity to sat­isfy the needs of its res­i­dents,” said Jin.

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