Three Chinese cities rank among the world's top 20 retail hubs, international real estate advisor CB Richard Ellis said after releasing a survey yesterday.
Hong Kong finished at No. 6, Shanghai at No. 11, and Beijing at No. 13, while London remained the No. 1 choice for international retailers.
The fifth annual survey maps the global footprint of 326 of the world's top retailers across more than 200 countries and regions.
Only two other Asian cities finished in the top 20 with Singapore at No. 10 and Tokyo at No. 19.
"The results show very healthy levels of activity in the key Asian markets as brands remain keen to look for new growth opportunities amid continuing rise in consumer purchasing power and ever growing level of fashion sophistication across the region," said Sebastian Skiff, executive director of CBRE Retail Asia. "We are seeing a continued flow of new brands approaching us for help in targeting the Asian markets, and we notice strong demand for 2013 from the US, European and Australian brands."
Other Chinese cities also featured in the survey with Hangzhou in the top 50 and Shenzhen in the top 60. Nanjing, Chengdu, Guangzhou, Shenyang, Tianjin, Dalian and Suzhou all made the top 100.
Dubai in the United Arab Emirates was ranked No. 2 and New York City No. 3.