Hong Kong ranked second most competitive economy

The International Institute for Management Development (IMD) World Competitiveness Yearbook 2015 has declared Hong Kong as the world’s second most competitive economy after the United States, surpassing Singapore and Switzerland. A total of 61 economies were included in the annual assessment, with Mainland China moving up one place to No. 22.

“We welcome the IMD’s high regard of Hong Kong as the world’s second most competitive economy”, said The Financial Secretary Mr John C Tsang after the announcement.

“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.”

Hong Kong ranked first globally for government efficiency and business efficiency.

 

(Source: www.info.gov.hk press release)