According to the third Savills Tech Cities ranking, China’s tech cities are growing very fast. This year, five mainland Chinese cities made the ranking for the first time, joining Hong Kong which made the second edition of the ranking in 2017.
Tech cities are defined as vibrant places in which to live and work, as well as important centers for tech and venture capital investment. Nowhere is this more true than in China, where the tech cities now account for a higher share of venture capital investment than their US counterparts. Savills Tech Cities found that Beijing recorded an average $34 billion of venture capital per year in the last three years, which is higher than even New York City and San Francisco, which topped this year’s ranking.
Chinese cities have also emerged as leaders in shared mobility services, which the World Economic Forum calls “an important factor in city growth”. For instance, Mobike and many other of the dockless bikeshare schemes now found in cities around the world originated in China.
Shanghai is the highest ranked Chinese tech city at 15, followed by Beijing (17), Hong Kong (20), Shenzhen (24), Hangzhou (25) and Chengdu (26).
