China / Society

Guangzhou tops best mainland commercial cities rankings

(ECNS/ Updated: 2014-12-16 18:43

Forbes has ranked Guangzhou first among the top 10 best commercial cities on the Chinese mainland followed by Shenzhen and Shanghai in the second and third places, while Beijing was ranked only the seventh, the Beijing News reported.

The list ranks Guangzhou first in indexes for passenger traffic and freight transport, and in the top ten for human resources, consumption ability and innovation. Its operating costs are among the lowest at 19th, lower than first-tier cities such as Beijing, Shanghai and Shenzhen, and even lower than east China's provincial cities of Hangzhou, Nanjing and Wuhan.

The second best commercial city on the Chinese mainland, Shenzhen, ranks first in consumption and innovation abilities, making it the most creative city in China.

Analysts say that Beijing lags behind because its business operating costs are the highest among the cities evaluated, although it ranks among the top three in indexes for human resources, urban scale and innovation.

Forbes believes that Chengdu owes its move up from 12th to 10th to the increasing vitality and innovation capability of its private sectors.

The traditional driving force of urban development is shifting from attracting businesses, investment, land development and management to innovation and entrepreneurship, says Forbes.

China has formed an entrepreneurship cluster centered on Beijing, Shanghai, Shenzhen, Guangzhou, Hangzhou, Suzhou and Chengdu, which all made the top ten best commercial cities.

Since 2004, Forbes has ranked cities by evaluating indexes such as human resources, urban scale, consumption ability, passenger traffic, freight transport, operating costs, vitality of private economy, and innovation.

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