Hong Kong rises to rank second globally in World Competitiveness Yearbook 2026
In the latest World Competitiveness Yearbook (WCY) 2026 published by the International Institute for Management Development, Hong Kong's global competitiveness has risen for the third consecutive year, up one place to second globally this year, the highest since 2019.
Among the four competitiveness factors in the WCY 2026, Hong Kong ranks second globally in "Government efficiency" and third in "Business efficiency". Hong Kong ranks eighth and 11th globally in "Infrastructure" and "Economic performance" respectively. As regards the various competitiveness sub-factors, Hong Kong tops the rankings in "Tax policy" and "Business legislation"; ranks second globally in "Finance"; third globally in "International trade", "International investment", "Management practices" and "Education"; and fourth globally in "Public finance" and "Basic infrastructure".
A Government spokesperson said today (June 18), "The WCY 2026 reaffirms Hong Kong as one of the most competitive economies in the world, and notes that Hong Kong's rise to second globally sustains the strong upward trajectory from 2024 and 2025. In the competitiveness factor 'Government efficiency' Hong Kong continues to rank second globally, reflecting the Hong Kong Special Administrative Region (HKSAR) Government's ongoing efforts to promote free and open, stable, predictable and business-friendly economic policies, as well as the international community's trust in Hong Kong's legal and regulatory environment. Hong Kong's 'Business efficiency' is ranked third globally, reflecting the strong support for industry development rendered by our robust financial ecosystem, as well as the seamless alignment of the city's business practices and environment with international best standards."
Photo source: Shutterstock
The spokesperson added, "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. In fact, Hong Kong continues to excel in various international rankings including those for economy, finance, and talent. The International Monetary Fund has also given positive recognition to Hong Kong in recent months, and major credit rating agencies have successively reaffirmed Hong Kong's credit ratings and 'stable' outlook. All these echo the WCY 2026 results.
"Currently, Hong Kong is formulating at full speed its first Five-Year Plan to proactively align with the National 15th Five-Year Plan. With the staunch support of our country, the HKSAR Government will work together with all sectors of society to strengthen our role and function as a 'super connector' and 'super value-adder', with a view to better integrating into and serving the overall national development, achieving our own high-quality development, creating more new room for development for our people and businesses, as well as opening up new opportunities for global investors and enterprises."
Photo source: reference image
Commissioner of Customs and Excise visits Dalian and Qingdao and attends APEC Customs-Business Dialogue
The Commissioner of Customs and Excise, Mr Chan Tsz-tat, led a delegation to visit Dalian and Qingdao from August 19 to 22, and attended the Asia-Pacific Economic Cooperation (APEC) Customs-Business Dialogue held in Dalian.
Coinciding with this year being the APEC "China Year" and with the nation hosting the meetings, Mr Chan led a delegation on August 20 to attend the Strategic Dialogue and related events of the APEC Customs-Business Dialogue, engaging in in-depth discussions with Mainland officials, Customs leaders from APEC economies, and business representatives on championing technology and innovation, as well as building smart Customs co-operation partnerships.
On the sidelines of the Dialogue, Mr Chan met with the Director General of the National Customs Service of the Republic of Chile, Ms Alejandra Arriaza Loeb, and signed the Customs Co-operative Arrangement to strengthen co-operation on information exchanges in combating transnational crimes, and to promote closer ties in trade facilitation. Hong Kong Customs has so far signed 36 similar arrangements with customs administrations worldwide. The signing of the Arrangement signifies the continuous effort of Hong Kong Customs in promoting international customs co-operation and fostering multilateral trade.
In addition, Mr Chan also met with the Minister of the General Administration of Customs of the People's Republic of China (GACC), Ms Sun Meijun, in Dalian to exchange views on further deepening collaboration between Mainland Customs and Hong Kong Customs. He expressed gratitude to the GACC for their consistent and strong support for the work of Hong Kong Customs at the meeting.
During the visit to Dalian and Qingdao, Mr Chan met with the Deputy Director General of the Dalian Customs District, Mr Wen Siquan, and the Director General of the Qingdao Customs District, Mr Shen Yang, respectively. He also conducted on-site visits to local customs facilities, including the Dayaowan Customs House of the Dalian Customs District, Qingdao Jiaodong International Airport and the automated terminal of Qingdao Port, to learn about local Customs clearance procedures and advanced regulatory technology.
Mr Chan stated that Hong Kong Customs will continue to actively promote the development of Smart Customs and leverage innovative technology to enhance trade facilitation and safeguard the gateway of the country, thereby contributing to the high-quality development of the country and regional economic and trade prosperity.
Commissioner of Customs and Excise visits Dalian and Qingdao and attends APEC Customs-Business Dialogue Source: HKSAR Government Press Releases
Commissioner of Customs and Excise visits Dalian and Qingdao and attends APEC Customs-Business Dialogue Source: HKSAR Government Press Releases
Commissioner of Customs and Excise visits Dalian and Qingdao and attends APEC Customs-Business Dialogue Source: HKSAR Government Press Releases
Commissioner of Customs and Excise visits Dalian and Qingdao and attends APEC Customs-Business Dialogue Source: HKSAR Government Press Releases
Commissioner of Customs and Excise visits Dalian and Qingdao and attends APEC Customs-Business Dialogue Source: HKSAR Government Press Releases
