Chinese metropolises trailed their international competitors on economic upgrading capacities, according to a report released on Friday analyzing 40 global cities in seven dimensions.

The report was jointly published by the Shanghai Academy of Social Sciences and Social Sciences Academic Press (China).

London ranked first, followed by last-year leader New York and Tokyo in the category that measures their financial markets, economical performance and innovation abilities. Hong Kong is the highest- ranked Chinese city, at 4th, while mainland cities Beijing and Shanghai ranked 11 and 13 respectively. Taipei ranked 29.Source: Annual report on world cities (2016)

The report also reveals there are big gaps on economic upgrading capacities among international cities. The top three cities scored over 90 points while more than 20 in the rankings scored less than 50 points.

In another category, comprehensive upgrading ability, London leads again, followed by Paris and Tokyo. Beijing and Shanghai are at 20 and 23.