A Closer Look at Three of China’s Top Cities for Opportunity

A Closer Look at Three of China’s Top Cities for Opportunity
June 22 17:12 2017 Print This Article

Guangzhou, Hangzhou, and Nanjing have been listed as 3 of the 5 “Cities for Opportunity.” In a report co-written by PricewaterhouseCoopers and China Development Research Foundation, these cities were lauded for innovations in technology, manufacturing, and urban planning. Experts say that, excluding Beijing and Shanghai from the study, these cities will be the main focus of development and growth for China in the next few years.

Guangzhou

Third to Beijing and Shanghai in population size, Guangzhou stands at top of the list for global leaders in terms of growth and potential. The birthplace of the Sino-US trade, Guangzhou was the first docking port of the Empress of China, an American ship carrying the first cargo of cotton, leather, and Ginseng. These goods were soon exchanged for silk and tea, thereby founding the economic relations between the U.S. and China. Since this first trade in 1784, Guangzhou has grown to be the center of international trade.

With progressive foreign investment policies and the presence of several universities, Guangzhou is now home to over 100,000 tech and innovation companies, including American multinationals like Microsoft, Google, and Caterpillar. Just this May, American IT giant Cisco have launched an RMB 20 Billion internet research & development project called, “Cisco Smart City Project.” To further fortify its commitment to innovation and positive business relations with the U.S., the city is said to have established offices in Boston and Silicon Valley. This December, Guangzhou will host the road show for the 2017 Fortune Global Forum. In line with the theme of “Openness and Innovation: Shaping the Global Economy,” Guangzhou has committed to prioritizing the development of technology, science, and energy.

Hangzhou

From a walk to the Lest lake to a meal at the newly opened Michelin Star Restaurant,

Hangzhou offers a rich experience to all who visit this metropolitan.

For the cultural enthusiasts, a walk or a bike around the West Lake is a must. A UNESCO World Heritage Site, it has been the inspiration of artists for its natural beauty. Visitors have also insisted that The National Silk Museum and the National Tea Museum are at the top of the list of the numerous available museums to see in the city.

For technology innovators, Hangzhou is known as the birthplace of the Alibaba Group Holding Limited, one of the leading e-commerce companies in the world. Recognizing the success and continued potential of high-tech firms, policies such as tax breaks and additional funding for IT companies have been implemented. In 2016, Information Technology and the Service industries grew by 138.5% and 33.3%, respectively. Last September, the city hosted the G20 summit, showcasing its capacity and commitment to sustainable development.

Nanjing

As one of the “Four Great Ancient Capitals” (along with Beijing, Luoyang, and Xi’an), Nanjing is a haven for cultural enthusiasts and businessmen alike.

Upon entering Nanjing the first thing visitors will notice is the infrastructure. Nanjing is home to historic sites that tell of the early history of China. In 2014, the Memorial of the Nanjing Massacre recorded 8 Million visitors in its first few months. Other than these beautiful sites, tourists and locals can also enjoy local performances, festivals, and cuisine.

Being strategically located in the Yangtze River Delta, Nanjing is one of the main hubs for the inflow and outflow of global products. Their openness to foreign investment has paved the way for large international companies, such as Bosch, Chevron, and BASF, to enter with ease. In 2012, the Mayor of Atlanta signed a Memorandum of Understanding (MOU) with the Mayor of Nanjing to strengthen business opportunities between the two cities. If other cities are able to make similar arrangements, Nanjing will soon reach the wealth of its neighboring cities. In the meantime, local companies such as Hindu advertising – one of the largest local advertising companies – can keep Nanjing on the path to prosperity, having recorded RMB 800 in 2010.

Whether you are tracing China’s history or searching for innovations in science & tech, Guangzhou, Hangzhou, and Nanjing are ready to welcome you with open arms.

 

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Henry Dick
Henry Dick

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