Beijing and Shanghai are among the world's five most economically influential cities, surpassing any other Asian cities including Singapore and Tokyo, a report revealed Thursday.

Among the 30 major cities measured, [Hong Kong Company Formation] Beijing ranks second in "economic power", with a tiny margin to the No.1, London, while Shanghai follows New York and Paris to rank the fifth, according to the report released by PriceWaterhouseCoopers.

The report said Beijing's high ranking was due to its strong performance in GDP growth, attraction to multinational companies and foreign direct investment as well as high employment rate in financial services.

The report also ranked these cities according to other indicators such as intellectual capital, technology readiness, environmental sustainability, cultural vitality and quality of life.

The Chinese capital also ranked second in terms of its openness as a global hub, thanks to the number of hotel rooms, passenger flows, airport-to-downtown convenience and number of international meetings.

Beijing scores poorly in environment protection, [HongKong Richful  - Hong Kong Company Formation, Offshore Company Incorporation]quality of life and living cost. It is the most expensive city to live in among the listed 30 cities, according to the report.