The Better Hong Kong Foundation held a briefing session to announce the results of the 2006 annual study Hong Kong-Shanghai Metropolis (International City) Competitiveness Study.
The study has been conducted annually for six years, by the research team from the Faculty of Business Administration, the Chinese University of Hong Kong and the Hong Kong & Macau Studies Centre, Shanghai Academy of Social Sciences. It comprises of a 32-item survey results of 210 CEOs of multinational corporations based in Hong Kong and Shanghai, and a subject analysis of the survey results.
The study shows that Hong Kong is still ahead of Shanghai in terms of all composite competitiveness indicators in 2006, and remains an international business hub. However, the international city competitiveness scores of the two cities are narrowing in the past 6 years.
The survey findings include:
On International City Competitiveness, the highest average competitiveness score is 5, Hong Kong’s score is 4.08, whereas Shanghai’s is 3.21; the difference is 0.87
Hong Kong’s score is still ahead that of Shanghai, but the difference is narrowing, a consistent behavior observed during the past five years
Hong Kong consistently scored higher in competitiveness over Shanghai in all the three PCC dimensions:
– Base for Sustainable Economic Growth: Hong Kong’s score for sustainable economic growth is 4.02 and Shanghai is 3.05, the difference is 0.79.
– Investment Environment: Hong Kong’s score is 4.13 and Shanghai is 3.05, the difference is 1.08.
– Image of Globalization: Hong Kong’s score is 4.30 and Shanghai is 3.63, the difference is 0.67.
Professor Tuan Chyau and Professor Linda Ng pointed out that, compared to last year, the investment environment of Hong Kong is still seen as the most significant dimension over Shanghai, but the gap between Hong Kong and Shanghai is narrowing in image of globalization. The difference in the scores of the three dimensions is also decreasing, this is due to the higher scores given to Shanghai by MNCs (especially in investment development), and no increase in the scores given to Hong Kong. The survey results show that Hong Kong still has a proper platform for market economy and well established financial system, which will help Hong Kong to remain as an international hub.
Ms. Karen Tang, the Executive Director of the Better Hong Kong Foundation reflected that the study is very useful for Hong Kong’s policy makers to consider and formulate Hong Kong’s economic and financial polices. The survey result clearly points out that Hong Kong still excels Shanghai in a large extent in investment environment, the policy makers must endeavour to continue to provide an investment-friendly system to maintain Hong Kong’s competitiveness. Metropolises like Hong Kong and Shanghai are facing challenges of globalization. Both cities should capitalize their resourceful and productive hinterland, and act as the gateway to the World for China, to strengthen their bases for sustainable economic growth. The Better Hong Kong Foundation believes that through developing economic ties, the two cities will be able to enhance both their international competitiveness. The Foundation will explore with the research team and other related organizations in Mainland and overseas to promote interaction and more collaboration between the two cities.
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Guest Speakers at the Briefing Session: (From left)Prof Anshan You,Director, Hongkong & Macau Studies Centre, Shanghai Academy of Social Sciences; Prof Xuejin Zuo, Executive Vice President, Shanghai Academy of Social Sciences & Director, Institute of Economics, Shanghai Academy of Social Sciences; Ms. Karen Tang, Executive Director, The Better Hong Kong Foundation; Prof. Chyau Tuan, Faculty of Business Administration, CUHK, and Prof. Linda Ng, Faculty of Business Administration, CUHK
Ms. Karen Tang (Central) Executive Director of the Better Hong Kong Foundation introduced the guest speakers
The Shanghai Academy of Social Sciences Hong Kong Macau Research Centre invites Ms. Karen Tang as its Council Member. Prof. Zuo (left) presented the appointment certificate to Ms. Karen Tang (right).
