HK places second in global competitiveness ranking

Hong Kong has risen to second place in global competitiveness in a worldwide ranking, gaining ground for a third consecutive year to its highest placing since 2019.

Published by the International Institute for Management Development, the World Competitiveness Yearbook measures the capabilities of an economy based on four main factors, namely economic performance, government efficiency, business efficiency and infrastructure.

The SAR ranked second globally in government efficiency and third in business efficiency, and placed eighth and 11th in infrastructure and economic performance, respectively.

As for various sub-factors, it topped the chart in tax policy and business legislation, was second in finance, and placed third in terms of international trade, international investment, management practices and education.

In a statement, a government spokesman said the rankings reaffirmed Hong Kong's position as one of the most competitive economies in the world and that the SAR's rise to second globally sustains the strong upward trajectory made in 2024 and 2025.

"Amid rapidly evolving geopolitical dynamics, Hong Kong, with its close connectivity to both the Chinese mainland and the world under the 'one country, two systems' principle, and its sound institutions, open markets and sustained investments in innovation, has become a 'value hub' that offers both security and growth opportunities," he said.

"Hong Kong continues to excel in various international rankings including those for economy, finance and talent."

The spokesman also said the administration will work together with all sectors of society to strengthen the city's role and function as a "super connector" and "super value-adder", with a view towards better integrating into and serving overall national development, and open up new opportunities for global investors and enterprises.

Edited by Edmond Fong ...