Shenzhen, by virtue of its multi-layered capital market, has topped the list of financial competitiveness of Chinese sub-provincial cities and cities under the national social and economic development plan.
Hangzhou and Guangzhou take the second and third places on the list, respectively. Other cities that break into the top 10 are Nanjing, Chengdu, Jinan, Ningbo, Wuhan, Xi’an and Xiamen.
The list, along with five other financial competitiveness rankings of provinces, autonomous regions and municipalities on the Chinese mainland in 2020, was jointly compiled by Securities Times and New Fortune, and was released Tuesday.
The release of the lists aims to provide a reference for the development of the financial industry in various regions through a comprehensive study and comparison of the status quo and potential of financial competitiveness of provinces, autonomous regions and municipalities on the Chinese mainland.
According to Securities Times, the evaluation has adopted 29 indicators from four dimensions including economic competitiveness, capital market scale, strength of financial institutions and capital market activity, looking into the financial development achievements and potential of 31 provinces, autonomous regions and municipalities, as well as 141 cities on the Chinese mainland.
In the rankings of financial competitiveness of provinces and cities on the Chinese mainland, Guangdong, Beijing and Shanghai rank as the top three, which highlights their prominence as financial centers in the country.
The financial competitiveness of Chinese mainland cities shows significant regional differences, as is showed by another list.
The top 50 cities that stand out in financial competitiveness are mainly distributed in the eastern coastal areas, with most cities from Zhejiang, Guangdong and Jiangsu provinces. Beijing, Shanghai and Shenzhen are the top three.