New #1 in China
There’s a new king in town. Shanghai has overtaken Hong Kong after its 11-year reign as China’s most competitive city, according to the China Institute of City Competitiveness (CICC). Just last year, Shanghai was still ranked at the number two spot, albeit marginally (a measly .272 points).
The CICC was founded in 1998, and began its annual city rankings in 2002. The rankings are found by quantifying variables such as economy, city size, internationalization, world influence, openness, growth potential, etc.
2013 is the year that Shanghai has finally muscled its way to the forefront of the ranking. Shanghai’s fiscal and economic growth rates were large contributors to the leap, as well as stronger technology and education. These aspects along with Hong Kong’s size and location limitations pushed Shanghai ahead of Hong Kong.
This calls for congratulations to the great city of Shanghai, the new #1! Although this will just add fuel to the rivalry’s competitive fire.
Shanghai jumping Hong Kong is another prime example of the necessity of speaking Mandarin, because English is spoken widely in Hong Kong (due to the lasting British influence) although not much in Shanghai.
干杯, Shanghai! Cheers to you and surpassing a long rival!