China slips in world competitiveness rankings

The Chinese mainland dropped two places to be ranked 23rd, and Hong Kong slipped one notch to 4th place, the first time in nine years that the region fell out of top three, in the 2014 World Competitiveness Yearbook (WCY) of the International Institute for Management Development (IMD), a business and management schools based in Lausanne, Switzerland.

The report, released on Thursday, said China fell partly owing to concerns about its business environment. And most big, emerging markets slide in the rankings as economic growth and foreign investment slow and infrastructure remains inadequate.