Global competitiveness report, Singapore being top 3, surpass of Hong Kong
Date：2014/06/19
[BBC Chinese] Switzerland Lausanne International Institute for Management Development (IMD) announced of <2014 Global Competitiveness Report> show that Singapore is being top 3, surpass of Hong Kong. Hong Kong first time drop out of the top 3 ranking since 2004, Taiwan’s ranking are retreat also.
Switzerland Lausanne IMD’s Global Competitiveness Report analyze global 60 economies primarily based on economic performance, government efficiency, enterprise business efficiency, infrastructure and the ability of the region to create and maintain healthy economic competition environment.
The United States and Switzerland remain at top 2 ranking, as for Hong Kong’s competitor Singapore have rise to No. 3, once again leading the Hong Kong since 2010.
Report shows that Hong Kong’s business efficiency had decrease from No. 2 to No.3, increase 1 level for economic performance, as No.7, government efficiency and infrastructure remain at 2nd and No.21.
Breakdown in government efficiency, social policies and political framework ranking have sharp retreat at last year, and further deterioration in this year. Wherein government decision-making plummeted from No.18 to No.25
Others than IMD report, World Economic Forum (WEF) published
Hong Kong prospect
Analysis pointed out that Singapore commitment to launch a lot of measure at 2011 to attracting foreign investment and new immigrants, especially on high-tech workers, constantly investment on infrastructure in a limited space, government encourage for innovation. All of these are recently lacking in Hong Kong.
Regarding the continuously fall of Hong Kong‘s competitiveness, professor of The Chinese University of Hong Kong said, many cities can trade directly with other countries, resulting in Hong Kong is no longer important. Hong Kong‘s competitiveness may gradually decline.
Feature articles of Hong Kong economist Mr. Guan notes that creative industry will be a great way out for Hong Kong, but unfortunately did not get support from Hong Kong government.
He pointed out, have been moving towards the extreme maturity of Hong Kong’s major industries. (finance and trade and logistics), and is not possible to reach a higher level.
Although increasing in commercial service or others supporting service in industrial and commercial and tourism service under the influence of CEPA and freedoms, but these two sector always affected by the China economic performance.
Such as tourism industry, the downward trend of consumption of China’s tourists in Hong Kong after executive of anti-corruption campaign by the Central Government, additional with the gradually intensified of cultural conflict, lead Hong Kong tourism industry facing of crisis.
Mr. Guan believe that Hong Kong’s future depends on the successful of transition to a knowledge-based economic, development of high value industries is the future way for Hong Kong. Besides that, IMD report show decline for China and Taiwan. Continuous 3 years decline for Taiwan, from No. 11 to No. 13.
Among four indicators, Taiwan only have progress on economic performance, have different degree of downward for government efficiency, business efficiency and infrastructure.
IMD think that the challenge of Taiwan is to bring up of social solidarity and social integration, liberalization of economy to meet with international standards, accelerate industries restructuring and upgrading, accelerate development and create of employment opportunities for service industry.