WITH excellent performance in sub-indices like innovation, talent, next-generation corporate activity and environment, Shenzhen’s urban competitiveness has maintained its strong momentum, according to a report from real estate investment management company Jones Lang LaSalle (JLL).
The report, called “China 12: China’s Cities Go Global,” highlights 12 leading mainland cities out of a total of 287. Based on their urban characteristics and competitive advantages, the 12 cities are divided into three groups, namely global contenders, enterprisers and powerhouses.
In addition to the traditional indices, such as urban scale, wealth and growth rate, this year’s report has added a new index called “future competitiveness,” which covers nine categories, namely education, talent, innovation, next-generation corporate activity, livability, environment, infrastructure, regional city cluster and real estate market transparency.
As an innovation-driven city, Shenzhen is categorized as an enterpriser. Among the 12 cities, Shenzhen ranks third in the overall index of future competitiveness, while Shanghai and Beijing rank first and second, respectively.
The report also points out that the future of China’s urban economy depends on the ability to attract and retain enterprises and talents. Shenzhen, a city imbued with a vibrant entrepreneurial atmosphere, has been a gathering place for innovative enterprises and high-level talents in the country, which gives it an edge in urban competitiveness.
Shenzhen ranks second with regard to next-generation corporate activity. “As it has clear advantages in supply chain, entrepreneurial atmosphere, financial environment and quality of living, Shenzhen has become a preferred option for ambitious enterprises and individuals to come and turn their ideas into real products or become world-class enterprises,” said Joe Zhou, head of the research department of JLL China.
In addition, as Shenzhen is home to a number of China’s leading technological firms and is building up more extensive commercial activities, the report predicts that Shenzhen is likely to join Beijing and Shanghai as a global contender by 2020.
The 12 cities that made it onto the list were Shanghai, Beijing, Shenzhen, Guangzhou, Nanjing, Hangzhou, Suzhou, Wuhan, Tianjin, Chengdu, Xi’an and Chongqing.