Shenzhen in South China's Guangdong province has taken the top spot in investment vitality in China, according to a report released by corporate information tracker Tianyancha.
Shanghai and Beijing came in second and third place respectively. Nanjing, capital of East China's Jiangsu province, overtook first-tier city Guangzhou to rank fourth.
During the past 10 years, the average growth of the number of enterprises reached 259 percent in China, according to the report. By 2020, 26 cities had more than 1 million enterprises, compared with five in 2011.
Hangzhou, capital of East China's Zhejiang province, ranks 6th on the list.