The Chinese tech hub of Hangzhou, home to e-commerce giant Alibaba (9988.HK), topped an Economist Intelligence Unit ranking of Chinese cities with the greatest economic growth potential in the next few years.
Employees take a lunch break at the headquarters of Ant Group, an affiliate of Alibaba, in Hangzhou, Zhejiang province, China October 29, 2020. REUTERS/Aly Song, topped an Economist Intelligence Unit ranking of Chinese cities with the greatest economic growth potential in the next few years.
Cities in the provinces of Guangdong, Jiangsu and Zhejiang are best placed to benefit from China's expected transition to a more technology-driven growth model during 2021-2025, the EIU said, with the cities of Hangzhou, Nanjing and Suzhou expected to further attract huge inflows of skilled workers. Some economists warn the high-tech boom in eastern and southern China, however, will aggravate a brain drain in the north, with Beijing being the exception, and deepen north-south economic imbalances.
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