The Boao Forum for Asia (BFA) recently released its 2012 Asia Economies Competitiveness Report, one week before hosting its annual conference in Hainan on April 1.

Although Australia and New Zealand were included in this year's evaluation, thereby creating a more competitive field, the Chinese mainland's ranking improved among the 37 Asian economies and moved up one position to place 10th overall.According to the 2012 report, Singapore jumped from the fourth spot in 2011 to seize the top position, while Taiwan and Hong Kong placed second and third, respectively.

The "Four Asian Tigers" -- Singapore, Taiwan, Hong Kong and South Korea, maintain their unbeatable performance and dominate four places among the top five. With reduced overall economic strength, Japan dropped one spot to place fourth in this year's ranking.

Taking into consideration that Oceania is closely tied to Asia and that the Asia-Pacific economic relationship plays an increasingly important role in the global economy, Australia and New Zealand were added into this year's research, increasing the survey's scope to 37 economies.

The Asian Competitiveness Annual Report was first released by BFA in 2011. The ranking of competitiveness is based on BFA's own index system and data model.

Boao Forum for Asia is an annual economic event usually attended by senior officials, economists and businesspeople of the region and the world at large and will be from April 1 to 3 this year.

Also read: Top 300 competitive enterprises in Asia 2012

                   Top 110 companies in emerging economies

                   Top 10 Asian economies by commercial & administrative efficiency

Here is the 2012 Asian Economies Competitiveness Evaluation Index Rankings:

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