On November 2, China Urban Sci-Tech Entrepreneurship Evaluation Report (2024) was released. According to the report, in 2023, Nanjing and Suzhou ranked third and sixth respectively in the country in terms of sci-tech entrepreneurial capability.

The report, compiled by the School of Entrepreneurship and Management at ShanghaiTech University with the support of the National Social Science Fund of China, evaluates 58 major cities in 30 provinces. The top ten cities in terms of sci-tech entrepreneurial capability are: Beijing, Shenzhen, Nanjing, Hangzhou, Shanghai, Suzhou, Guangzhou, Wuhan, Qingdao, and Hefei.

The five primary indicators of the evaluation are cultivation of enterprises, high-quality innovation and entrepreneurship, internet-based innovation, technological level, and environment and platforms. Nanjing ranks second in technological level, third in environment and platforms, fourth in both cultivation of enterprises and high-quality innovation and entrepreneurship, and seventh in internet-based innovation. The report suggests that Nanjing’s overall sci-tech entrepreneurial capability is underpinned by the competitiveness shown by many basic indicators. For instance, Nanjing ranks first in two basic indicators, namely, the growth rate of high-tech enterprises and research output. The growth rate of high-tech enterprises went up by 38 places compared to that in 2022, while research output remained stable since 2022.

Suzhou ranks third in high-quality innovation and entrepreneurship, seventh in environment and platforms, and eighth in both cultivation of enterprises and technological level. Suzhou’s ranking in high-quality innovation and entrepreneurship was higher than its comprehensive ranking, which the report attributes to several factors: introducing high-tech enterprises by creating an enabling environment, attracting talent to industries and developing industries with talent, emphasizing both policy support and market-oriented operation, and facilitating financing for industrial development through both investments and loans.