Shanghai gains on Hong Kong as China’s most competitive city
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Shanghai may replace Hong Kong as China’s most competitive city within a few years unless it makes better use of its competitive edge, according to research released on Wednesday.
While Hong Kong still leads the nation’s list of most competitive cities – for the 11th year in a row – Shanghai is gaining dramatically, according to the China Institute of City Competitiveness.
On last year’s list Hong Kong scored more than 15,100 points, about 1,560 points ahead of Shanghai. But this year, Hong Kong’s lead slipped to about 270 points.
Shanghai finished in second place followed by Beijing in third.
Institute chairman Gui Qiangfang said the list weighs cities’ competitiveness in economic, social, environmental and cultural areas.
“Our study shows that Shanghai’s economic volume in the first half of this year has already exceeded Hong Kong’s, but Hong Kong is still No 1 because of its established legal and social systems; and its [competitive] professional sector,” Gui said.
“But if Hong Kong does not work hard and strengthen its [competitive] edges, it is very likely to be taken over by Shanghai in a few years time.” He was referring to factors such as Hongkongers showing better ability to create successful new companies.
The institute’s ranking of Chinese cities’ growth competitiveness put Hong Kong in 10th place, behind Tianjin, which topped the list, and Shanghai and Beijing – which ranked fourth and fifth, respectively.
Macau was ranked the safest city in China, while Hong Kong was excluded from the ranking list for the second year in a row, after the Lamma ferry disaster on October 1 killed 39 people. It was excluded last year because of the Mong Kok fire, in which nine people died.