BFA launches Asian competitiveness report

By Guo Yiming
0 Comment(s)Print E-mail China.org.cn, March 23, 2017
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The competitiveness of major Asian economies remained unaffected by a number of negative events that rocked world politics and the economy in 2016, according to a report issued on the sidelines of the Boao Forum for Asia (BFA) on March 23.

Press Conference and Launch of BFA reports [Photo by Guo Yiming/China.org.cn]

Press Conference and Launch of BFA reports. [Photo by Guo Yiming/China.org.cn]


The Asia Competitiveness Annual Report 2017, based on overall analysis of commercial and administrative efficiency, infrastructure level, overall economic vitality, social development, and human capital and innovation capability, shows most of the 37 Asia-Pacific economies surveyed remained stable and not many changes occurred in the rankings.

The Four Asian Tigers of Asia, namely Singapore, China Hong Kong, the Republic of Korea and China Taiwan, remained among the first echelon and witnessed an increase in their integrated score.

Traditional developed economies, including Japan, Israel, Australia and New Zealand, follow close behind, showing strong competitive advantages but with poorer-than-expected economic vitality.

Resource exporters in Middle and West Asia held on to their place in the third echelon, but delivered bad performances last year, primarily due to the sustained impact from geopolitical and unstable political situation in the region, said Wang Jun, an analyst at the China Center for International Economic Exchanges that drafted the report.

China maintained 9th place for the fourth consecutive year, but ranked top in terms of overall economic vitality, the report indicated.

"Despite its economic slowdown, witnessed medium-and-high-speed expansion and contributed much to the world economic growth," said Wang.

He attributed China's stable competitiveness against a lackluster global outlook to the country's economic scale, sustained improvement of the business environment as well as high investment and strong commitment to innovation.

He admitted China still needed to improve its social development level to meet the ongoing urbanization process.

India ranked 30th on the list, dropping four places compared to the previous year, with large fluctuations, but outperformed other South Asian economies that saw an overall backward trend.

This year's BFA has launched three annual reports on Asian economic integration, emerging markets and the ranking of competitiveness of Asian economies.

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