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."
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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."
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Speech by CS at 10th Anniversary Retitling Banquet of EdUHK
Following is the speech by the Chief Secretary for Administration, Mr Chan Kwok-ki, at the 10th Anniversary Retitling Banquet of the Education University of Hong Kong (EdUHK) today (October 23):
(Director-General of the International Department of the Office of the Commissioner of the Ministry of Foreign Affairs of the People's Republic of China in the Hong Kong Special Administrative Region, Mr Wang Jian), Dr David Wong (Chairman of the Council of EdUHK), Professor John Lee (President of EdUHK), faculty, staff, students and alumni of the EdUHK, distinguished guests, ladies and gentlemen,
Good evening. It is a great honour to be here with you tonight at this landmark celebration. This evening, we are proud to mark the 10th anniversary of the EdUHK's retitling.
Much more than just a name change, the school's retitling was a big step forward. It opened a bright new chapter for this University and for Hong Kong.
Over the past decade, the EdUHK has evolved into a dynamic, education-focused university with a diversity of academic strengths. It has earned worldwide recognition in many ways.
This year, the QS World University Rankings by Subject ranked EdU seventh in the world and second in Asia. And in the 2026 Times Higher Education Sustainability Impact Ratings, EdU placed second in Quality Education, one of the United Nations' Sustainable Development Goals.
When it comes to talent, EdU is showing the way. This year, 73 EdU scholars were named among the World's Top 2% Scientists, a ranking compiled by Stanford University. Since 2018, EdU researchers have won 265 awards at major international invention exhibitions.
These achievements show that EdU leads in quality education, while highlighting its growing impact in sustainable development and academic excellence.
I am also delighted to hear that nearly 50 EdU student athletes and alumni took part in the recent Asian Games. They won 15 medals - two gold and three silver. They helped Hong Kong win a record number of medals at the Asian Games.
Ladies and gentlemen, the National 15th Five-Year Plan, launched earlier this year, supports Hong Kong in better integrating into, and serving, the nation's overall development.
And Hong Kong's First Five-Year Plan, launched last month, puts a priority on the integrated development of education, technology and talent.
EdU's development strategy is built on "Education Futures, Diverse Talents". It draws on its traditional strengths, while equipping students with a wide range of skills. I am pleased to say this matches the Government's long-term vision perfectly.
EdU is Hong Kong's leading university for teacher education and lifelong learning, and it is expanding its academic offerings, adding programmes covering psychology, data science, sociology, sports science, new media and other disciplines. All 13 of its Bachelor of Education programmes are now double-degree programmes, giving students – tomorrow's teachers – broader learning opportunities.
The Government is just as committed to creating opportunities. We want Hong Kong to rise as an international education hub. And the Northern Metropolis University Town is our flagship initiative.
The University Town, totalling some 1 000 hectares, will bring together education, technology and talent, driving integrated development among Government, academia, industries, research and investment sectors.
Just as important, the University Town and the larger Northern Metropolis will greatly expand our connectivity with the Greater Bay Area.
In this area, EdU is already moving ahead. This year, it set up the EdUHK Shenzhen Research Institute and the Shenzhen Educational Development Centre. As Dr Wong said a few minutes ago, this is "a historic milestone in EdU's expansion into the Greater Bay Area".
EdU's first decade as a university has built a strong foundation – for its students and teachers, for Hong Kong and our future as an international education hub. I am confident it will create lasting value here in Hong Kong, across the country and around the world.
Once again, a happy 10th anniversary to the EdUHK, and to everyone who has played a part in its remarkable decade of progress. Thank you.
Source: AI-found images
