According to the HK Commercial Daily a report to be released by the Swiss IMD on global competitiveness in 2005 raises Hong Kong's rank to 2nd from 6th last year. The top position continues to be held by America.

According to this report Singapore's global competitiveness rank fell to 3rd from last year's 2nd while that of China's Taiwan climbed one step to the 11th. Hong Kong had already jumped from the 10th to the 6th last year and was among the regions reporting the most remarkable progress. Relevant report will be released Thursday.

The Swiss IMD competitiveness ranking mainly covers 60 economic entities worldwide. Its appraisal items have reached 314, with four major items including infrastructure construction, corporate efficiency, economic performance and government efficiency.

By People's Daily Online