By Henry Williams.
In a recent report from China’s reassuringly named “Institute of City Competitiveness”, Shanghai ranks almost on par with Hong Kong in terms of competitiveness.
Hong Kong was indexed at 14,879.18, while Shanghai was close behind with 14606.91. Along with Beijing in third, the three are far ahead of their nearest competitor, Canton, which has a measly 8,406.352.
According to the South China Morning Post, Hong Kong has slipped about 210 points since last year, and its lead over Shanghai has closed by about 270 points.
Chairman of the institute, Gui Qiangfang, was quoted as saying that Hong Kong is likely to be overtaken in a few years if it doesn’t work harder:
“Our study shows that Shanghai’s economic volume in the first half of this year has already exceeded Hong Kong’s, but Hong Kong is still No 1 because of its established legal and social systems; and its [competitive] professional sector.”
The index is based on competitiveness in “economic, social, environmental and cultural areas”.