Economic Think Tank Named Shenzhen Best Performing City in Asia
Milken Institute a independent economic think tank based in the U.S. compiled and released a new index that showed that Shenzhen is the best performing city in Asia. Milken based the Asia focused index by examining job creation, economic value of industries and income creation.
Being one of the first modern Chinese special economic zones, Shenzhen is one of the major production hub that boast of factories that employs thousands of workers that produces gadgets such as iPhones and other components for a lot more industrial and manufacturing firms. And yet the rapid progress of the city as the economic ladder is being fueled by higher value added industries including finance, telecommunications and biopharmaceuticals.
The index also ranked other best performing cities based on their economic performances that focused on job growth, high value added industries, household incomes in the span of five years and the adjustment for extreme variations in the city’s business cycles. The cost of living is also being compared and the quality of life conditions ranging from commuting times for its residents, pollution levels was only noted but not examined.