A report recently released by PricewaterhouseCoopers (PwC) China and the Chinese Development Research Foundation (CDRF) named Beijing, Shanghai, Hong Kong, Guangzhou and Shenzhen, in order, as the country's top five 'cities of opportunity.'

"Since 2014, Cities of Opportunity has issued six consecutive editions, widely impacting society and receiving widespread attention and recognition from all spheres." said Lu Mai, Vice Chairman and Secretary General of China Development Research Foundation. "The number of cities assessed in this year's report has increased from last year's 30 to the current 38. Many large and medium-sized cities in the Guangdong-Hong Kong- Macao Greater Bay Area, as well as the Beijing-Tianjin-Hebei city cluster have also been included in the assessment. The relevant analysis should therefore be of value to the study of Chinese city and city cluster development.”

The 2019 report selects 38 cities in China as samples for further comprehensive comparison and study. Ten criteria and 50 variables are employed in compiling the report. The cities are assessed on the basis of indicators like intellectual capital and innovation; technological maturity; major regional cities; health, safety and public security; transportation and urban planning; sustainable development and natural environment; culture and quality of life; economic clout; and cost and ease of doing business.

According to the study results, Beijing ranks first in the dimensions of intellectual capital and innovation and economic clout. Shanghai is at the top of major regional cities, and Hong Kong topped all cities in ease of doing business and health, safety and public security. Guangzhou ranked fourth in overall ranking with high scores in health, safety and public security, as well as transportation and urban planning.

Noteworthy in the comprehensive rankings is that several cities located in the Guangdong-Hong Kong-Macao Greater Bay Area were cited. In the relevant dimensions, the Greater Bay Area ranks comparatively high.

PwC said the 2019 report indicates that China’s cities will have more opportunities to develop their global economic exchanges and regional influence with the execution of the Belt and Road Initiative, the accelerated development of the Greater Bay Area, the further deepening of China’s reform and opening up, and the closer integration of regional economies.