Shenzhen takes first place in the business environment of major Chinese cities, a report jointly released Monday by the Academy of Guangdong-Hong Kong-Macao Greater Bay Area Studies and the 21st Economic Research Institute showed.
The report surveyed the business environment of 296 cities of prefecture level and above. Shenzhen takes first place and is followed by Shanghai, Beijing and Guangzhou. Chongqing, Chengdu, Hangzhou, Nanjing, Changsha and Wuhan also entered the top 10 list of cities in the business environment ranking.
The report surveyed the business environment from six aspects: soft environment, basic facilities, social services, market capacity, business costs and ecological environment. The soft environment weighed 25 percent of the total scores, while market capacity and ecological environment made up 20 percent each. Basic facilities accounted for 15 percent, while social services and business costs evenly divided the remaining 20 percent.
First-tier cities each had their own unique advantages in many indexes. Shenzhen has been ranked a top city in number of market entities and the average market entities for every 10,000 people for many years.
The number of PCT applications (applications under the Patent Cooperation Treaty) and listed companies based in Shenzhen also ranked first among Chinese cities. It took second place in the increased number of permanent residents in 2019, the average number of patent licensing for every 10,000 people and per capita GDP.
Based on the indexes, Shenzhen took first place in soft environment and third place in number of market entities and social services.
The average number of market entities and enterprises for every 1,000 people was the major index for judging the vitality of entrepreneurship.
Shenzhen had reached the index of 250 market entities for every 1,000 residents and 150 enterprises for every 1,000 residents, taking first place among Chinese cities. Shenzhen is now home to 3 million market entities and 2 million different types of companies.