China's biggest city, Shanghai, ranks second in the list of "most attractive cities in the world" released by the Paris Ile de France Capitale Economique and the consultant agency KPMG, with Hong Kong third and Beijing fifth, the Global Times reported.
The list was based on research on 500 prominent businessmen and investment data from last year. Cities are valued according to their political stability, security and economic situation.
London topped the list with 42 percent of the votes, while New York City fell from third to tenth due to the financial crisis. Paris made the list for its infrastructure and high quality of life.
The report suggests other Asian cities like Singapore and Mumbai may thrust in the top spots in the future.
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