HK named best Chinese city for investors in pre-crisis survey
Hong Kong offers the best investment environment among all Chinese cities, according to a study conducted by the China Institute of City Competitiveness.
The institute yesterday released its 2008 indices, ranking cities in the greater China region in seven categories, which were innovation, tourism, liveability, investment, harmony, environment and beauty.
In the rankings for innovation, Shenzhen topped Hong Kong while Shanghai took third place. It is the first time the institute has produced an innovation ranking.
Gui Qiangfang, director of the institute, which is based in Hong Kong and Shenzhen, said the two cities had very close scores in terms of innovation.
'They each have their merits,' Dr Gui added. 'But Shenzhen holds the edge over Hong Kong in terms of technological innovation, cultural innovation and its environmental innovation.'
Shenzhen scored 72.04 and Hong Kong 71.89 on innovation.
Hong Kong was China's most investment-friendly city, followed by Shanghai, Beijing, Shenzhen and Guangzhou.
Hong Kong also took top spot for its sound financial system and efficient governance, Dr Gui said.
Huang Lianghui, vice-director of the institute, said the ongoing 'financial tsunami' had not been factored into the investment rankings.
'We'll have to wait and see the 2009 ranking,' Dr Huang said.
'By then, we'll be able to tell whether Hong Kong will suffer or not.'
Last year, the institute considered only mainland cities for the investment ranking. Suzhou , Shenzhen and Hangzhou took the top three places, in that order, in last year's investment ranking.
When it comes to liveability, Hangzhou won first place while Hong Kong came second, followed by Shenzhen, Zhuhai and Dalian . These cities were safe, culturally advanced and offered comfortable living environments, according to the study.
Last year, the institute considered only mainland cities for the liveability ranking, and ranked Hangzhou, Chengdu and Weihai as the top three.
In terms of tourism, Beijing took first place followed by Hong Kong, Shenzhen, Hangzhou and Shanghai.
Hong Kong came second in the 'harmony' ranking, which takes democracy, justice, order and community ties into consideration.
Hangzhou beat Hong Kong as China's most harmonious city, while Weihai, Chengdu and Ordos ranked third, fourth and fifth.
When it comes to beauty, Beijing took the top spot while Hong Kong came second, followed by Shenzhen, Shanghai and Hangzhou.
Last year's ranking had the same cities in the top five spots.
The study also ranked cities in terms of environment, with tourism city Sanya topping the list.
Haikou , Yichun , Yangzhou and Weihai ranked second, third, fourth and fifth, respectively.
Going to town
How China's cities measured up on the China Institute of City Competitiveness indices
1 Hong Kong
2 Hong Kong
2 Hong Kong
2 Hong Kong
SOURCE: CHINA INSTITUTE OF CITY COMPETITIVENESS