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China's efforts to speed up economic development in the less-afflulent western, central and northern regions have helped second-tier cities such as Tianjin and Chongqing grow faster than cities like Shanghai and Beijing.
Following is a brief description of the up-and-coming cities which are most favored by property industry executives:
Tianjin
This port city in northeastern China is located about 120 km from Beijing.
Under China's 11th five-year plan, Tianjin - one of China's four municipalities - will be the center for the revitalization of the northeast that once was China's industrial base.
Western firms with large operations in the city include Airbus and Boeing, while Singapore conglomerate Keppel Corp is leading the development of a 30 sq km ecological township in the Binhai area.
Property consulting firm Jones Lang LaSalle (JLL) states that Tianjin has the greatest potential to become China's fifth Tier 1 municipality after Beijing, Shanghai, Guangzhou and Shenzhen.
Dalian
Dalian is a northern port city with a strong, indigenous IT industry.
Intel recently announced the construction of a $2.5 billion chip plant that is expected to employ 1,500 people when completed in 2010.
Some people in Dalian speak Japanese and Korean, and the city has several call centers serving the two countries.
Overseas investors in Dalian include Taiwanese property and construction group Farglory and Morgan Stanley.
Chengdu
The capital of Sichuan province is well connected to the rest of western China through a network of roads and rail.
The central government has named Chengdu and Chongqing key centers for the development of China's western region.
International firms with operations in the city include IBM and Nokia.
Sichuan is home to China's pandas and has strong potential for international tourism.
Chongqing
Chongqing is China's most populous city and one of the country's four autonomous municipalities.
Property prices in Chongqing are lower than most big Chinese cities, offering investors potentially higher returns.
Most Hong Kong developers, including Hutchison Whampoa and Sino Land Co, have a presence in Chongqing.
Nanjing
This provincial capital city of eastern Jiangsu is one of China's richest provinces.
Nanjing is next to Shanghai, China's wealthiest city and main financial hub.
Property prices in the city soared in recent years, driven by rising incomes and higher prices in Shanghai.
CB Richard Ellis said Nanjing offered opportunities for office and retail development because of the limited supply of Grade A office and prime retail space.
Wuhan
The capital of Hubei province is the scientific and education center of central China.
Wuhan is also one of China's main steel-producing areas.
CBRE describes Wuhan as "the most important transportation hub in inland China" because of its strategic location.
Hence, it's a good spot for investments in factories and warehouses.
Hangzhou
Hangzhou is a popular tourist destination about 200 kilometers from Shanghai.
Hangzhou is already one of China's richest cities with a per capita income comparable to the Tier 1 cities of Beijing, Shanghai, Guangzhou and Shenzhen.
The city is an important manufacturing base and logistics hub for China's eastern seaboard.
Xiamen
This port city in southeastern China is right across the narrow strait of water separating Taiwan province.
Xiamen is one of China's key manufacturing bases in the southern region, mainly for electronics products.
Major foreign companies with large operations in the city include Dell, Panasonic and ABB.
Reuters
(China Daily 07/27/2009 page12)
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