If you currently own a home in Dongguan or Foshan, you may want to hold on to it. According to one of China’s top think tanks, the two cities are poised to become two of the country’s richest in the next 10 years, reports Junshi81.com.
The study, conducted by the Chinese Academy of Social Sciences, looked at 294 Chinese cities, and created a list of what they predict to be the 22 wealthiest in the next 10 years. Factors included the level of the city’s development over the last five years, and potential competitiveness both at home and abroad. While traditional top tier cities such as Beijing and Shanghai made the list, Dongguan and Foshan are expected to make the largest economic gains over the next decade.
According to the Academy, Foshan, “inspires innovation for private enterprise”, and “enjoys great geographic advantage with bright economic prospects”.
Dongguan, the southern boom town that has struggled to distance itself from its reputation as China’s sex capital, made the list in large part due to the Pearl River Delta’s overall development and close economic ties with Hong Kong and Macau, said the academy.
The other cities on the list include: Tangshan, Suzhou, Hefei, Nanchang, Shenyang, Tianjin, Chongqing, Chengdu, Nanjing, Wuhan, Changsha, Ningbo, Sanya, Dongying, Jilin, Liuzhou, Kaifeng, Jiaxing and the western Taiwanese city of Taichung.