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Beijing, Shanghai in top 5 most affluent cities list: Report
May 23, 2014, 5:19 am

A woman walks past an art sculpture on display in front of an under construction fashion boutique outlet covered by its advertisement board at a shopping mall in Beijing, China Monday, May 12, 2014 [AP]

A woman walks past an art sculpture on display in front of an under construction fashion boutique outlet covered by its advertisement board at a shopping mall in Beijing, China Monday, May 12, 2014 [AP]

Beijing and Shanghai are among the world’s five most economically influential cities, surpassing other Asian cities including Singapore and Tokyo, a new international report revealed Thursday.

Among the 30 major cities measured, Beijing ranks second in “economic power”, with a slim margin to the top spot claimed by London.

Shanghai follows New York and Paris to rank the fifth, according to the report released by PriceWaterhouseCoopers.

The report said Beijing’s high ranking was due to its strong performance in GDP growth, attraction to multinational companies and foreign direct investment as well as high employment rate in financial services.

The report also ranked these cities according to other indicators such as intellectual capital, technology readiness, environmental sustainability, cultural vitality and quality of life.

The Chinese capital also ranked second in terms of its openness as a global hub, thanks to the number of hotel rooms, passenger flows, airport-to-downtown convenience and number of international meetings.

Beijing, however, scores poorly in environment protection and is the most expensive city to live in among the listed 30 cities, according to the report.

Beijing’s government said in April that PM2.5 concentrations stood at a daily average of 89.5 micrograms per cubic metre in 2013, 156 percent higher than national standards.

China’s economic growth slowed in the latest quarter to 7.4 per cent after last year’s full-year expansion of 7.7 per cent tied 2012 for the weakest performance since 1999.

 

Source: Agencies

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