Key Points
- China’s property struggles and U.S. sanctions have significantly affected some of its cities, even as others benefit from Beijing’s tech push, Milken Institute’s best performing cities China index showed Tuesday.
- Hangzhou, capital of the eastern Zhejiang province and home to Alibaba and other tech companies, ranked first in this year’s rankings.
- Other cities, such as Zhuhai, once a “rising star,” dropped in the rankings due to the slump in real estate.
