Kunming is one of China's 30 second- or third-tier cities to watch in the coming five years according to the white paper China 30: China's Rising Urban Stars by real estate money management and services firm Jones Lang LaSalle.
The report focuses on the 26 mainland cities other than Shanghai, Beijing, Guangzhou and Shenzhen that Jones Lang LaSalle believes "will be on the radar screen of real estate occupiers, investors and developers" over the coming five years. China has a total of 660 cities.
How does Kunming fare within the top 30? The Spring City is rated a "Tier III" city by Jones Lang LaSalle that is in a position to fulfill much of its economic and developmental potential in the coming five years based upon its strategic location as an inland city offering access to foreign trade with Southeast Asia and India.
Kunming tied for second with Shenyang among the 26 second- and third-tier cities in the survey in terms of concentration of foreign retailers - a statistic that was based on a basket of international retailers including Carrefour, Ikea, B&Q, Metro and Wal-Mart. Kunming has no Ikea outlets, four Carrefours, one B&Q, one Metro and three Wal-Marts. The white paper was largely positive regarding Kunming's future prospects as an investment destination, particularly for the hotel and tourism industries.
Kunming rated in the lower part of the top 30 mainland cities in terms of GDP growth and concentration of high technology. The Spring City also lagged behind most of the other cities when its economic development was compared with that of Shanghai. The report grouped Kunming with Guangxi's Nanning, Jiangsu's Changzhou, Anhui's Hefei and Nanchang in Jiangxi as "longer term winners".© Copyright 2005-2020 GoKunming.com all rights reserved. This material may not be republished, rewritten or redistributed without permission.