China climbs up competition ladder

China has leaped to 34th from 54th in this year's Global Competitiveness Report, released yesterday by the World Economic Forum (WEF) in Geneva, Switzerland.

The annual report, based on publicly available data and the results of a survey by the WEF of more than 11,000 business leaders in a record 131 countries, is designed to measure the factors affecting an economy's business climate.

"China's competitive performance reveals a superior macroeconomic environment," Fiona Paua, head of strategic insight teams at the WEF, said.