Taizhou in East China's Zhejiang province ranks 24th among cities on the Chinese mainland in terms of financial competitiveness. [Photo/VCG]

Taizhou in East China's Zhejiang province came in 24th among cities on the Chinese mainland in terms of financial competitiveness, a recent report found.

The report, which was unveiled at a financial conference in Shenzhen, was jointly compiled by the China Capital Market Research Institute affiliated with the Securities Times and New Fortune magazines.

A total of 141 cities in 31 provinces and municipalities across the nation were evaluated on their economic competitiveness, the size of their capital markets, the strength of their financial institutions, and their capital market activity.

Beijing topped the list, followed by Shanghai, Shenzhen, Hangzhou, Guangzhou, Nanjing, Suzhou, Chengdu, Tianjin and Chongqing.

In addition to the list of traditional financial hubs, a list of the nation's emerging cities was also unveiled, and Taizhou ranked fifth only behind Suzhou, Wuxi, Foshan and Yantai.

As the birthplace of the private economy in China, Taizhou has been spearheading reform of financial services for small and micro enterprises.

In November 2019, Taizhou was officially designated a national pilot zone for the comprehensive reform of financial services for private enterprises and small and micro businesses.