In the Milken Institute’s inaugural ranking of the best performing cities in China, Shanghai comes in at 7th place with the majority of the other top ten finishers benefiting from their proximity to the best city in China.
The rankings are based on a detailed framework highlighting the economic performance of Chinese cities, using metrics like job growth, wage growth, foreign direct investment, etc.
According to these figures, Shanghai ranked rather poorly in 1-Year Job Growth, but better in 5-Year Job Growth, same thing for 1-Year Wage Growth and 5-Year Wage Growth. Where Shanghai really shines is in its 1-Year GRP Per Capita Growth where it places only behind Xiamen, Fujian province.
Suzhou came in first with Jiangsu cities dominating the list, taking seven of the top ten spots. The California-based think tank commented that the cities have benefited greatly from their nearness to Shanghai, as well as an influx of talent and technologies.
Meanwhile, Chengdu stands out as an unrivaled No. 1 among first- and second-tier cities. The institute describes the city’s factors to succcess as: “Human capital, central government support, established industries in high-end aerospace and aircraft design, and a more recently developed electronics manufacturing sector.”
Check out the tier rankings for the top ten first- and second-tier cities (congrats, Hefei!):
And for the top ten third-tier cities:
Finally, here are the places not to move: Qitaihe, Helongjiang; Jixi, Heilongjiang; Guang’an, Sichuan; Zhangjiajie, Hunan; Fuyang, Anhui.