It appears that, while Beijing and Shanghai may be the only Chinese cities your friends can pronounce, the Pearl River Delta is also one of China’s lands of opportunity.
A 2016 study by PwC (PricewaterhouseCoopers) China and the Chinese Development Research Foundation (CDRF) named Guangzhou, Shenzhen and Hangzhou as the top three cities for opportunity on the mainland.
The study analyzed 24 urban centers using 10 indicators, including (and this is a mouthful) intellectual capital and innovation, important regional cities, technological readiness, healthcare, safety and security, transportation and urban planning, sustainability and the natural environment, culture and lifestyle, economic clout, ease of doing business and cost of living.
It's worth noting that Beijing and Shanghai were not included in the above report because it focused strictly on Chinese cities. A broader PwC study, entitled 'Cities of Opportunity,' considered the global 'meta' cities of Beijing, Shanghai and Hong Kong.
Shenzhen, which held the number one spot for the past two years, was surpassed by Guangzhou this year, primarily because the latter now boasts superior ‘intellectual capital and innovation’ as well as ‘transportation and urban planning.’ We’re betting Shenzhen’s exorbitant cost of living also played a role, however.
READ MORE: Shanghai, Shenzhen Among World's Most Expensive Cities
Cities in the PRD scored high for nine of the 10 indicators, with ‘cost’ being the one exception.
In an interview with Enterprise Innovation, strategy consulting partner of PwC China, Jin Jun, explained: “Cities in the top ranks continuously portray a virtuous cycle of mutual promotion of social and economic advantages, while continually facing the major challenges of balancing development and cost.”
Historically, southern China has been one of the most dynamic trading hubs in the East, with Guangzhou serving as a crucial port and Shenzhen a key special economic zone – a region that experimented with liberal trade and market policies to increase investment and growth.
Moral of the story? The next time your family asks how to pronounce ‘Guangzhou,’ just smile and tell them you live in the 'land of opportunity.'
READ MORE: Shenzhen No. 1 CNY Destination in Guangdong
[Images via PwC and Shutterstock]
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