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Shenzhen ranks 3rd in China for competitiveness

  Following Shanghai and Hong Kong, Shenzhen ranked third among all cities in China for competitiveness in 2017, according to a list of Chinese cities’ competitiveness unveiled in Hong Kong on Wednesday, Xinhua News Agency reported.

  The list was compiled and released by China Institute of City Competitiveness. According to the report, the list was made by analyzing and comparing 358 cities in China over the course of last year. The cities’ competitiveness was calculated by 10 Grade-I indices, 50 Grade-II indices and 216 Grade-III indices with four evaluating systems, namely economy, society, environment and culture.

  The next six cities from fourth to 10th place were Beijing, Guangzhou, Chongqing, Tianjin, Hangzhou, Suzhou and Nanjing. Shanghai has taken the first place on the list for five consecutive years.

  The institute’s director, Gui Qiangfang, said Shenzhen has one of the strongest growth potentials in China. Gui said the Shenzhen Municipal Government has taken various measures to maintain the competitiveness of the city’s real economy, as the city is facing a growing population, decreasing land resources and higher factor costs.

  The institute was established in Hong Kong back in 1998 as one of the earliest academic institutions to study the competitiveness of cities. It released its first competitiveness ranking of Chinese cities in 2002.