Hangzhou ranks third in 17 economically advanced cities in China, according to the 2019 Report on City Investment Environment in China, which was released at the 2019 Industrial Investment Annual Meeting on Dec 23.[Photo/zjol.com.cn]

The sub-provincial city of Hangzhou, the capital of Zhejiang province, ranked third in 17 economically advanced cities in China for investment environment, according to a report released at the 2019 Industrial Investment Annual Meeting in Hangzhou on Dec 23.

Of the 17 cities, 16 have annual regional gross domestic product of over 1 trillion yuan ($142.8 billion), including Beijing, Shanghai, Shenzhen, Guangzhou, Chongqing, Chengdu and Nanjing. The other one is Hefei, the capital of Anhui province.

The report, called the "2019 Report on City Investment Environment in China", was made and issued by a professional institute of economic research.

In the report, cities were analyzed and ranked depending on six major indicators: influence, openness, livability, vitality, business environment and development potential.

The development potential and livability of Hangzhou both ranked first in the 17 cities.

Moving forward, Hangzhou will work on high-end talent introduction and fee reduction for enterprises to further improve the investment environment, said an official at the Hangzhou municipal bureau of investment promotion.