A list ranking the top 10 cities in China where it’s considered “most easy” to make money has been released, with Beijing and Shanghai occupying the top two spots.
Compiled by the Research Department of China Investment Network, a Beijing-based magazine, the list is calculated according to the average salaries earned by people working in listed companies in 2013. China’s capital Beijing ranks first, with an average annual income of around 170 thousand RMB, followed by Shanghai with residents making an average of around 150 thousand RMB per year.
Residents in Kunming, which ranks 10th on the list, seemed to disagree with the data-sourcing methods used. An auditing accountant in Kunming surnamed Chan said in a Xinhua report the list wasn’t precise or representative.
“Different positions in a listed company have different salaries. If it is calculated by putting salaries of all ranks together, the data will be rough and not quite referential,” he said.
People working in small local firms in Kunming only earn around 4,000 RMB each month, according to the same report. Even after adding up bonus payments, it’s still far from an annual pay of 100 thousands RMB.
In 2013, the top three industries with the highest employment rate included financial services, construction and mining. The 5.8 million employees in these three industries made up 35.76% of the total number of employees in listed companies.
The original report included 20 cities. We’ve published the top 10 here:
1. Beijing. Average salary: 170,700 RMB
2. Shanghai. Average salary: 155,000 RMB
3. Nanjing. Average salary: 154,300 RMB
4. Tianjin. Average salary: 145,000 RMB
5. Fuzhou. Average salary: 137,000 RMB
6. Guangzhou. Average salary: 127,300 RMB
7. Shenzhen. Average salary: 118,300 RMB
8. Xi’an. Average salary: 106,600 RMB
9. Taiyuan. Average salary: 105,100 RMB
10. Kunming. Average salary: 105,000 RMB
Hong Kong, on the other hand, still holds the title for the best city in the world to become a self-made billionaire.
[Images Via Travel China Guide and Wikipedia]
By Jennifer Hui