The Lausanne, the Swiss-based International Institute of Management Development, released its World Competitiveness Yearbook on May 10. It raised the competitiveness of the Chinese Mainland by three places, from 18th to 15th.

The report said that the Chinese mainland was, for the first time, more competitive than Chinese Taiwan. Taiwan has fallen from 17th to 18th in the rankings.

Experts have raised the Chinese Mainland's competitiveness because of China's rapidly growing economy and the expansion of foreign trade.

The US, Singapore and China's Hong Kong took the first three places in the rankings.

By People's Daily Online