Leaders of the world’s biggest economies will gather in Hangzhou for the G20 Summit next weekend to look at ways to revive the stagnating global economy. But why has this city been chosen as host, instead of more cosmopolitan Chinese cities like Beijing or Shanghai?
Hailed as a “paradise on earth” in China, Hangzhou has long impressed tourists with its beautiful scenery, including the West Lake and the Grand Canal among other historical and cultural heritage sites.
Hangzhou is also known as the “silicon valley of China”, as the city has become well known for being the birthplace of many of China’s tech giants and for its dynamic private sector. The city has been recognized by the World Bank for having China’s best investment environment.
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