Tokyo is Asia's leading center of commerce but London is No. 1 in the world, said a study released yesterday by MasterCard.
Three other Asian cities -- Hong Kong, Seoul and Singapore -- ranked among the world's top 10, the MasterCard Worldwide centers of Commerce Index showed.
In a press release, MasterCard called its index "the most comprehensive analysis to date of how major cities compare in performing critical functions that connect markets and commerce globally."
Tokyo earned its top Asia Pacific ranking for factors including its Aaa Moody's foreign currency government bond rating, ease in dealing with licenses, a stable inflation rate, high level of health, safety and other services, overall quality of life, aviation connectivity and number of patent applications, MasterCard said.
"I believe that these results were achieved by Tokyo possessing, among a spectrum of commercial attractions, an advanced urban infrastructure and one of the safest and most secure living environments in the world," the press release quoted Tokyo Governor Shintaro Ishihara as saying.
London topped the chart with an index value of 77.79 followed by New York with 73.80, Tokyo at 68.09, Chicago with 67.19, Hong Kong at 62.32, Singapore 61.95, Frankfurt 61.34, Paris 61.19, Seoul 60.70 and Los Angeles 59.05.
Other Asia Pacific cities in the top 50 were: Sydney, ranked 14th, Shanghai 32nd, Melbourne 34th, Bangkok 36th, Kuala Lumpur 38th, Mumbai 45th and Beijing 46th, the study said.
Dubai ranked 37th overall and was the top-placed Middle East city.
Eight independent experts on urban development, economics and social science compiled the index, which rated 63 cities according to their legal and political framework, economic stability, ease of doing business, financial flow, business center status and knowledge creation and information flow, the press release said.
The experts, mostly university professors, are based at institutions in China, Singapore, Canada, Britain and the US, it said.
Over four months, they evaluated data and criteria related to costs, quality of life, access to technology and other factors in a process which, MasterCard said, exceeds traditional measures used to gauge financial and business activity.
London's number-one rating came from its flexible business operating environment, strong global financial connections and exceptionally high levels of international trade, travel and conferences, it said.
Seoul scored high marks for its higher education system and patent output, while Hong Kong and Singapore boasted top rankings for the strength of their business climate and their prominence in the global financial network, MasterCard said.
"Singapore also rates high for government policies that favor international business and trade," it said.
Taiwanese Olympic badminton men’s doubles gold medalist Wang Chi-lin (王齊麟) and his new partner, Chiu Hsiang-chieh (邱相榤), clinched the men’s doubles title at the Yonex Taipei Open yesterday, becoming the second Taiwanese team to win a title in the tournament. Ranked 19th in the world, the Taiwanese duo defeated Kang Min-hyuk and Ki Dong-ju of South Korea 21-18, 21-15 in a pulsating 43-minute final to clinch their first doubles title after teaming up last year. Wang, the men’s doubles gold medalist at the 2020 and 2024 Olympics, partnered with Chiu in August last year after the retirement of his teammate Lee Yang
FALSE DOCUMENTS? Actor William Liao said he was ‘voluntarily cooperating’ with police after a suspect was accused of helping to produce false medical certificates Police yesterday questioned at least six entertainers amid allegations of evasion of compulsory military service, with Lee Chuan (李銓), a member of boy band Choc7 (超克7), and actor Daniel Chen (陳大天) among those summoned. The New Taipei City District Prosecutors’ Office in January launched an investigation into a group that was allegedly helping men dodge compulsory military service using falsified medical documents. Actor Darren Wang (王大陸) has been accused of being one of the group’s clients. As the investigation expanded, investigators at New Taipei City’s Yonghe Precinct said that other entertainers commissioned the group to obtain false documents. The main suspect, a man surnamed
US Secretary of the Treasury Scott Bessent and US Trade Representative Jamieson Greer began talks with high-ranking Chinese officials in Switzerland yesterday aiming to de-escalate a dispute that threatens to cut off trade between the world’s two biggest economies and damage the global economy. The US delegation has begun meetings in Geneva with a Chinese delegation led by Chinese Vice Premier He Lifeng (何立峰), Xinhua News Agency said. Diplomats from both sides also confirmed that the talks have begun, but spoke anonymously and the exact location of the talks was not made public. Prospects for a major breakthrough appear dim, but there is
The number of births in Taiwan fell to an all-time monthly low last month, while the population declined for the 16th consecutive month, Ministry of the Interior data released on Friday showed. The number of newborns totaled 8,684, which is 704 births fewer than in March and the lowest monthly figure on record, the ministry said. That is equivalent to roughly one baby born every five minutes and an annual crude birthrate of 4.52 per 1,000 people, the ministry added. Meanwhile, 17,205 deaths were recorded, resulting in a natural population decrease of 8,521, the data showed. More people are also leaving Taiwan, with net
RSS