Department: Financial Secretary's Office
Hong Kong is ranked world's 2nd most competitive economy
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Hong Kong is the world's second most competitive economy, up from the
fourth place last year, according to the International Institute for
Management Development (IMD) World Competitiveness Yearbook 2015.
The Financial Secretary, Mr John C Tsang, said today (May 28), "We
welcome the IMD's high regard of Hong Kong as the world's second most
competitive economy."
"Hong Kong is highly competitive vis-à-vis most other economies in the
world, especially in terms of government efficiency and business efficiency
in which Hong Kong attains the top rank globally. This once again affirms
the importance of our steadfast fiscal discipline, robust financial system,
and favourable business environment."
"We will continue to consolidate Hong Kong's institutional strengths
and broaden the economic base on various fronts, and will strive to uphold
our leading position as a key metropolitan city in the world."
According to the IMD World Competitiveness Yearbook 2015 released
yesterday (May 27), Hong Kong's rank rose to the second among the 61
economies assessed, only after the United States.
The report ranks the competitiveness of 61 economies around the world
in various aspects. The four competitiveness factors assessed are: economic
performance, government efficiency, business efficiency and infrastructure,
each consists of five sub-factors. Among the four competitiveness factors
assessed, Hong Kong's rankings in government efficiency and business
efficiency both improved to the first globally, up from the second and the
third last year respectively, while that in infrastructure also climbed six
places to the 15th. However, as a highly open economy, Hong Kong's economic
growth slackened amid the unsteady global economic performance last year,
resulting in a slight drop in the ranking in economic performance from the
seventh to the ninth.
http://www.info.gov.hk/gia/general/201505/28/P201505280166.htm
