Shanghai, Beijing set to join ‘Big Seven’ list

THE diverse strengths and developed economies of Beijing and Shanghai have set them on course to join the elite group of “Big Seven” powerful and globally-connected cities within the next five years, global real estate service provider JLL said in a recent study.

The “Big Seven” refers to London, New York, Paris, Tokyo, Singapore, Seoul and Hong Kong.

JLL’s study examined a dozen Chinese mainland cities and their transformation into major hubs of innovation and global interaction.

“The 12 Chinese cities are at the forefront of the transition to an innovation economy, and are home to a growing breed of energetic, tech-savvy businesses that will spearhead the next wave of China’s globalization,” said KK Fung, managing director of JLL China.

The study used both traditional metrics including size, wealth, growth and connectivity, as well as “future proofing” metrics like talent, innovation, livability and real estate transparency, to evaluate each city.

Beijing and Shanghai stood out as “Global Contenders.” Beijing leads in innovation, education and “next generation” corporations, while Shanghai scores highly in livability, environment and integration within the surrounding region.

Shenzhen and Guangzhou — the “Enterprisers” — scored high in quality of life, connectivity and their talent pools.

Hangzhou, Nanjing, Suzhou, Wuhan, Tianjin, Chengdu, Chongqing and Xi’an are seen as “Powerhouses” due to their strong links to global manufacturing and industry.