Shenzhen is a bustling metropolis in southern China, often referred to as the country’s Silicon Valley. The city’s competitive culture has attracted a large population of young and talented workers and is home to numerous small manufacturers and software companies. Many of these have grown into large technology corporations, such as Huawei and Tencent. Strategically located by the Port of Shenzhen, one of the world’s largest and fastest-growing container ports, the city plays a crucial role in global trade and logistics.
But how does the city perform in terms of economic competitiveness and innovation, city brand strength, and reputation, according to leading rankings and indices?
Let’s explore:
- Shenzhen’s competitiveness and economic performance
- Its brand strength and global attractiveness
- Livability: how appealing for talent, visitors, locals?
Economic Competitiveness and Financial Performance
In the Global Financial Centres Index 35, Shenzhen is ranked an impressive 11th. Although it only advanced by one position, the one-point difference in ratings between Shenzhen and its counterparts such as Seoul (10th) and Washington D.C. (12th) underscores its growing significance on the global financial stage.
Furthermore, the GFCI 35 notes that Shenzhen ranks among the top 15 most competitive centres in areas of Infrastructure and Financial Sector Development, in addition to Industry Sectors such as Finance (3rd), Insurance (4th), and Investment Management (5th). In FinTech, it is ranked a formidable 4th.
In the Innovation Cities Index 2022-2023, Shenzhen saw a significant decline of 48 places and is now ranked 74th, between Riverside (73rd) and Abu Dhabi (75th). This drop highlights the need for Shenzhen to enhance its technological innovation and financial dynamism to regain its competitive edge.
Shenzhen’s Brand Strength and Global Attractiveness
Brand Finance’s City Index 2023 positions Shenzhen globally 73rd, comparable with Johannesburg (72nd) and Chongqing (74th). Within China, Shenzhen is the top city brand, owing to its large population of young and skilled workers and its status as a prime location for innovative start-ups.
Shenzhen maintains a respectable rank of 73rd in Kearney’s 2023 Global Cities Report, between Kuala Lumpur (72nd) and Jakarta (74th). However, the report’s Global Cities Outlook Ranking shows that there is room for improvement, as the city falls 31 positions to 46th.
How Attractive to Live, Study, and Work?
The Mercer Quality of Living City Ranking ranks Shenzhen 139th, between Ankara (138th) and Kuwait City (141st), while Mercer’s Cost of Living Ranking places the city 20th, between Tokyo (19th) and Boston (21st). Despite its lower ranking in the Mercer Quality of Living City Ranking, Shenzhen boasts a relatively affordable cost of living compared to other global cities, offering a vibrant and dynamic environment for residents and professionals alike.
In 2024, the Times Higher Education Ranking placed Shenzhen University in the 351-400th bracket and 88th in the Asia University Ranking. The QS World University Ranking positions Shenzhen University 595th and 81st among other Asian universities.
Urban Sustainability
The Arcadis Sustainability City Index 2022 ranks Shenzhen 67th, between Shanghai (66th) and Rome (68th). Shenzhen has balanced pillar rankings as follows: Planet 61st, People 59th, Profit 58th.
Last updated in June 2024. Explore more city profiles here.
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Disclaimer: The information in this article is intended to provide a general overview of Shenzhen’s economic and cultural landscape and facilitate comparison over time. While we strive for accuracy and completeness, we are not responsible for any typographical errors or inaccuracies. The data is provided ‘as is’ without warranty of any kind. Users should verify any information before relying on it for decision-making purposes.
