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Shanghai now ranks 25th among 53 major cities worldwide, reveals a new study which examines technology, macro-economic environment and public institutions.
A latest report by the Global Competitiveness Program of the World Economic Forum carried out a series of surveys on major cities all over the world including Beijing, Shanghai, Moscow, New York, Paris, London, and Tokyo.
Global Competitiveness Program Director Augusto Lopez-Claros, said yesterday the ranking was decided by the data from three major indexes - technology, macro-economic environment and public institutions.
Technology transfer, information and communications, macro-economic stability, country credit rating and government waste were all scrutinized.
Lopez-Claros released the results at the opening of the International Business Leaders' Advisory Council For the Mayor of Shanghai 2004.
"The theme for this year is 'How to Heighten Shanghai's International Competitiveness,'" he said.
Over 500 senior officials, CEOs and economists gave their opinions during discussions on the advisory council which met yesterday.
Lopez-Claros added: "Shanghai is the most developed city in China, and it is better than any other city in country in aspects like institutions, infrastructure, high technology sector and local governmental efficiency."
He said, however, Shanghai should further improve its institutional aspects in order to catch up with Hong Kong which ranks second in the overall rankings.
Seoul's Mayor Lee Myung Bak noted that Shanghai, based on Seoul's experience, should keep a good balance between economic development and environmental protection, adding the public transportation system should be further developed to solve the city's huge traffic problems.
Mayor Han Zheng said he "firmly believed" suggestions put forward will inspire plans to better develop the city.
(China Daily November 1, 2004)
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