HK retained ‘most competitive city’ title
The China Institute of City Competitiveness had named Hong Kong, the special administrative region (SAR) the country’s most competitive city for the third consecutive year in an annual study.
However, according to the report, the city was also facing a shortage of resources and manpower that might affect its future development.
The institute studied the competitiveness of 289 cities in terms of their business and financial market development, educational levels and technological advancement, among other things. Shanghai and Beijing came in second and third.
Hong Kong also took the top spot for being a world-class cosmopolitan city, followed by Beijing and Shanghai.
It was said that Beijing’s international image had been strengthened through the process of preparing this year’s Olympics. The cooperation between Hong Kong and Shenzhen won praise as the most outstanding example of how cities can collaborate to aid their mutual development.
The SAR government was also named the country’s most honest.
Institute chairman Gui Qiangfang said though Hong Kong was unlikely to lose the top spot any time soon, but the city could not afford to rest on its laurels as it had fallen from fourth place in 2006 to sixth last year for competitive growth.
He said the latest findings did not indicate Hong Kong’s competitiveness was declining, but rather how the development of other cities had intensified.
He added that Hong Kong needed to maintain its own legal system and free economy, and cooperate with mainland cities in hi-tech industries to offset the impact caused by its shortage of resources and manpower.
Institute vice-chairman Raymond Tse urged mainland authorities to relax the restriction on capital flows to Hong Kong. “Hong Kong will benefit a great deal if it can absorb capital from the mainland,” he said.
Are you interested in the business opportunities in China?
China is one of the world’s great growth markets and is likely to be for many years to come. Foreign companies often face difficulties in assessing Chinese market demand and enacting effective strategies because of the language barriers, culture differences, and high expense.
BPOVIA is the leading virtual assistant and Knowledge process outsourcing (KPO) service provider in China. BPOVIA is the only virtual assistant company ever been nominated for the prestigious “Red Herring 100 Asia” Awards 2008. Combines international perspective with local know-how, BPOVIA can provide our clients China business development service and help our clients doing successful business in China.
Please visit http://www.BPOVIA.com/ for details about our service.
Popularity: 3% [?]