Hong Kong continues to rank second in World Competitiveness Yearbook 2019

0 Comment(s)Print E-mail Xinhua, May 30, 2019
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China's Hong Kong has continued to rank second globally in the latest World Competitiveness Yearbook (WCY) 2019 published by the International Institute for Management Development (IMD).

"The government is committed to enhancing the competitiveness and vibrancy of our economy. The WCY once again recognized Hong Kong as one of the most competitive economies in the world," said a spokesperson of the Hong Kong Special Administrative Region government on Wednesday.

Analyzed by the WCY's four competitiveness factors, Hong Kong maintained the top rank in "government efficiency," and was ranked second in "business efficiency" and 10th in "economic performance."

Benefiting from the government's increased investment in areas such as infrastructure and innovation and technology as well as education, Hong Kong's ranking edged up to 22nd in "Infrastructure."

The spokesperson further commented that "Amid the keen competition among global economies, we must keep up the effort in consolidating our prevailing competitive advantages, including an open and free market, an efficient public sector and a favourable business environment with a level playing field."

The spokesperson added the government would continue to assume the role of a "facilitator" and "promoter," so as to explore more opportunities for Hong Kong.

At the same time, the government would also step up investment in infrastructure, innovation and technology, nurture talents and increase land supply, in order to provide a favourable environment for Hong Kong's long-term economic development.

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