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As a cutting-edge technology that is sought after worldwide, the AI industry is regarded a new growth engine for Shanghai, a city with special advantages in big database, industrial foundation, and sufficient talents from universities and institutions, according to Chen, adding that the massive data resources are the first and foremost element for developing AI technology.

As for transportation development, the construction of an expressway and three high-speed railways in the region is well underway.

As a traditionally popular immigration destination, the United Kingdom rose one place, coming in second on this year's list. Its education quality, medical services and social welfare were strong positive factors according to surveyed billionaires.

As far back as 2012, Hon Hai launched its own television brand named Ruixia, but the brand was knocked out in a "war between Chinese television makers”, news website China.com.cn. reported.

As a significant growth driver, consumption contributed to 77.2 percent of GDP increase in the first quarter.