Comprehensive competitiveness ranking of Chinese provinces and regions: Guangdong ranks first, Hong Kong falls to sixth place

Comprehensive competitiveness ranking of Chinese provinces and regions: Guangdong ranks first, Hong Kong falls to sixth place Xinhuanet, Hong Kong, July 23rd China Urban Competitiveness Research Association announced in Hong Kong on the 23rd...

Ranking of Comprehensive Competitiveness of Chinese Provinces and Regions: Guangdong ranked first, Hong Kong fell to sixth. According to the "2014 Comprehensive Competitiveness Ranking of Chinese Provinces, Regions and Municipalities" by the China Urban Competitiveness Research Association, Guangdong, Jiangsu, Shandong, Zhejiang, and Shanghai ranked in the top five, while Hong Kong, Taiwan, Beijing, Tianjin, and Liaoning ranked sixth to tenth. In addition, Hong Kong's ranking in the "2014 Growth Competitiveness Ranking of Chinese Provinces, Regions and Municipalities" also fell one place, from 17th last year to 18th. In the list, the top ten are: Tianjin, Guangdong, Jiangsu, Sichuan, Shandong, Chongqing, Guizhou, Inner Mongolia, Hubei, and Taiwan. The report pointed out that Hong Kong's economic growth has been slow in the past decade, but China's rapid economic growth over the years, especially the rise of Shanghai, Beijing and Shenzhen, has posed greater challenges to Hong Kong's competitiveness as a city. At the same time, as an important international finance, trade, shipping and consulting center in the Asia-Pacific region, Hong Kong has the world's busiest container port and the world's major gold trading center. With these advantages, Hong Kong ranks first in the "2014 Chinese City Commercial and Trade Competitiveness Ranking" #20013; Ho Chi Wing, vice president of the China Urban Competitiveness Research Association, analyzed Hong Kong’s economic trends in 2014 at the meeting. He said that although Hong Kong's economy is still highly competitive, it faces fierce competition and may be marginalized in the future with the rise of mainland free trade zones. On the other hand, affected by social and political uncertainties, Hong Kong's financial industry may experience shocks in the second half of the year. In terms of trade and shipping, Hong Kong is expected to maintain low growth amid fierce competition. Overall, Hong Kong's economy as a whole is cautiously optimistic in the second half of the year, assuming that the existing socio-economic landscape and relevant policies remain unchanged. Since its establishment in 1998, the China Urban Competitiveness Research Association has organized more than a hundred experts and scholars to conduct research and comparison on the comprehensive competitiveness and growth competitiveness of China's 296 cities above the prefecture level every year based on its independently created GN evaluation system, in order to promote more scientific and rational competitive development of cities.