(ECNS) - The southern Chinese city of Shenzhen in Guangdong province has overtaken Hong Kong to become the most competitive city in China, according to a research report Friday.
The report, entitled the Blue Book of Urban Competitiveness, was released by institutes under the Chinese Academy of Social Sciences.
It has rated nearly 300 Chinese cities according to a broad range of indicators.
The ten most competitive cities in China, according to the report, are Shenzhen, Hong Kong, Shanghai, Taipei, Guangzhou, Tianjin, Suzhou, Beijing, Macao and Wuxi.
Most of the cities are located in the Pearl River Delta, Yangtze River Delta, and areas around the Bohai Sea. No cities from the inland western areas made the top 10.
Hong Kong has dropped from the first place mainly because it lacks innovation and continues to rely heavily on five sectors - trade, finance, shipping, tourism, and professional services.
Hong Kong doesn't pay much attention to the newly merged industry, which is small in size but has great potential, so it may not take a lead role in the future, according to the report.
