Shanghai overtook Hong Kong for the first time to become China's most competitive city this year mainly due to the establishment of its pilot free trade zone, according to a ranking by the China Institute of City Competitiveness yesterday.
With a score of 16,163.08, Shanghai topped the list which measures comprehensive competitiveness based on the cities' economic, social stability, environmental and cultural conditions.
Shanghai was followed by Hong Kong, the champion in the past 11 years but scoring 16,099.80 this time.
Beijing, Shenzhen and Guangzhou took the next few spots.
Gui Qiangfang, president of the institute, said it brings no surprise for Shanghai to surpass Hong Kong in the ranking.
"The establishment of the first state-level free trade zone in Shanghai is a powerful driver to enhance the city's competitiveness," Gui said. "Considering Hong Kong's limited potential for further economic growth, more cities in the Chinese mainland will exceed Hong Kong in this list in the future."
In terms of economic output, Shanghai outmatched Hong Kong in 2011, while Beijing managed to do so last year.
But Hong Kong still led concerning regulatory system and the ownership of professionals, Gui said.
Source: Shanghai Daily
