The Hong Kong Trade Development Council (HKTDC) has highlighted the city’s improved global competitiveness following the release of the 2026 World Competitiveness Yearbook (WCY) by the International Institute for Management Development. Hong Kong now ranks second globally, up from its previous position, underscoring its robust institutional framework and market efficiency.
According to the WCY 2026, Hong Kong leads in ‘Tax policy’ and ‘Business legislation,’ ranks second in ‘Finance,’ and third in ‘International trade,’ ‘International investment,’ ‘Management practices,’ and ‘Education.’ These results reflect the city’s clear advantages in regulatory and financial environments.
Prof Frederick Ma, Chairman of the HKTDC, said: “The WCY 2026 reaffirms Hong Kong’s competitiveness and business advantages. Together with a number of recent international reports showing that Hong Kong has become the world’s fifth-largest trading entity, overtaken Switzerland to rank first globally in cross-border wealth management, and remained among the top global destinations for IPO fundraising, these positive developments highlight Hong Kong’s competitive advantages as the ‘Four Centres and One Hub’. They also demonstrate that Hong Kong is the premier two-way springboard connecting the Chinese Mainland and international markets.”
The HKTDC noted that these achievements align with Hong Kong’s role as a superconnector and super value-adder. Prof Ma added that the council will continue to support the Hong Kong Special Administrative Region government in aligning with the national 15th Five-Year Plan and Hong Kong’s own Five-Year Plan, leveraging the city’s unique strengths to integrate into and contribute to the nation’s overall development.
The World Competitiveness Yearbook is an annual report that ranks countries based on economic performance, government efficiency, business efficiency, and infrastructure. Hong Kong’s rise to second place signals its continued appeal as a global business hub, particularly in finance and trade. The HKTDC, which celebrates its 60th anniversary this year, promotes Hong Kong as a two-way investment and business hub through international exhibitions, conferences, and business missions, providing market insights via research reports and digital news channels. For more information, visit the HKTDC Media Room at https://mediaroom.hktdc.com/en.
The findings come amid other positive indicators for Hong Kong, including its status as the world’s fifth-largest trading entity, top global destination for cross-border wealth management, and strong IPO fundraising activity. These factors collectively reinforce Hong Kong’s position as a leading international financial and business center.
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