Hong Kong has been replaced by Zhuhai as the most liveable city in China, according to an annual city competitiveness ranking report released by a government-backed think tank on Friday, China News Service reported. The former British colony has held the crown for 12 straight years.
Zhuhai is a prefecture-level city on the southern coast of Guangdong province.
The study, conducted by the Chinese Academy of Social Sciences, still ranked Hong Kong as the most economically competitive city followed by Shanghai and Beijing. The nation’s capital city, which continues to suffer from heavy smog, ranked No. 41 on the list of most liveable cities.
Despite ranking No. 1 in economic competitiveness, Hong Kong may see its economic growth run out of steam amid its over dependence on the property and financial services sectors, the report said. The city may eventually lose its edge in taxation, talent pool and other aspects, it said.
The academy also said Hong Kong’s business competitiveness would suffer if Occupy Central movement pushed through with its civil disobedience campaign or if billionaire Li Ka-shing pulled out his investments from the territory.
A Cheung Kong (Holdings) Ltd. spokesperson said Li has told many times in various occasions that the group will not withdraw any of its businesses from Hong Kong. The company will continue to treat Hong Kong and mainland China as an important region for its investments.
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