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Shaoxing has been named one of China's second-tier cities in the newly released Ranking of Cities' Attractiveness in China 2025, published by Yicai Media Group's New First-Tier City Research Institute on May 28.

According to the list, Hangzhou and Ningbo remain first-tier cities in Zhejiang province. Five other cities in the province — Wenzhou, Jinhua, Jiaxing, Taizhou, and Shaoxing — secured spots among the top 30 second-tier cities nationwide, placing Zhejiang among the leading provinces in terms of city competitiveness.

The ranking is based on five primary dimensions: concentration of commercial resources, city hub strength, urban vitality, new economy competitiveness, and future growth potential.

Weighting of these dimensions was determined by expert panel scoring, while the underlying data was analyzed using principal component analysis. Most indicators draw from full-year 2024 data or statistics available as of early 2025.

Shaoxing emerged as the fastest-growing second-tier city in Zhejiang. Its GDP surpassed 800 billion yuan ($111.45 billion) in 2024, with an annual growth rate of 6.5 percent.

The city's industrial transformation — from traditional sectors such as dyeing, soy sauce, and rice wine to high-end textiles, integrated circuits, and biopharmaceuticals — highlights its shift to a "new three-pillar" economy.

The performance of Zhejiang's second-tier cities underscores the province's resilience. Private enterprise continues to serve as a key engine — over 70 percent of Wenzhou's industrial land is allocated to private firms, while Shaoxing has built a chip industry cluster from scratch.

Policy support has also been agile and targeted. Under Zhejiang's common prosperity strategy, special-purpose bonds have favored emerging sectors, and financial instruments have helped ease funding challenges, fostering synergy between policy and industry.

Regional collaboration further boosts city competitiveness. Jinhua uses cross-border e-commerce to reach global markets, and Jiaxing integrates deeply into the Yangtze River Delta's industrial chain network.