|

Shaoxing in Zhejiang province. [Photo/Tide News]

Shaoxing in Zhejiang province has ranked 29th in the recently released 2024 China Top 100 Cities Ranking, scoring 50.86 points.

Compiled by the Warton Economic Institute, the ranking highlights cities based on their comprehensive economic and social performance. This marks the fourth consecutive year that Shaoxing has secured a position in the top 30.

The Shanghai-based Warton Economic Institute, China's first comprehensive research organization focused on macroeconomic, regional, and enterprise development, has been publishing this ranking since 2015. Only cities with a GDP ranking among the top 110 are eligible, and the cities are then ranked based on a composite score derived from "hard" economic indicators (weight 0.618) and "soft" economic indicators (weight 0.382).

The "hard" economic indicators include GDP, savings, and fiscal revenue, while the "soft" economic indicators cover environment, science and education, culture, and healthcare. Over the past four years, Shaoxing has improved in both categories. Its "hard" economic indicators, in particular, have risen from 29th in 2021 to 26th this year.

In 2024, Shaoxing has focused on several key initiatives: maximizing internal potential, expanding foreign trade markets, reducing real estate inventory, integrating culture, business, and tourism, and strengthening financial support for the real economy. These efforts have paid off, with the city's GDP reaching 382.3 billion yuan ($53.79 billion) in the first half of the year, a 7 percent year-on-year increase.