Economy

China ranks 27th in global competitiveness report 2010-2011

(chinadaily.com.cn)
Updated: 2010-09-09 14:18

China's competitiveness ranking moved up from 29th to 27th, according to the Global Competitiveness Report 2010-2011 issued Thursday by the World Economic Forum ahead of its Annual Meeting of the New Champions 2010 in Tianjin.

Switzerland tops the overall rankings, and the United States falls two places to the fourth position, overtaken by Sweden (2nd) and Singapore (3rd), after already ceding the top place to Switzerland last year.

Related readings:  Summer Davos in Tianjin will focus on sustainability  Tianjin shines to welcome Davos Forum  Tianjin Davos Forum goes green  Meet the Summer Davos 2010 volunteers

China continues to lead the way among large developing economies, improving by two more places this year, and solidifying its place among the top 30.

Among the three other BRIC economies, Brazil (58th), India (51st) and Russia (63rd) remain stable.

The Global Competitiveness Report's competitiveness ranking is based on the Global Competitiveness Index (GCI), developed for the World Economic Forum by Sala-i-Martin and introduced in 2004.

The GCI is based on 12 pillars of competitiveness, providing a comprehensive picture of the competitiveness landscape in countries around the world at all stages of development.

The pillars are: institutions, infrastructure, macroeconomic environment, health and primary education, higher education and training, goods market efficiency, labour market efficiency, financial market development, technological readiness, market size, business sophistication, and innovation.