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Hong Kong tops World Competitiveness rankings

Hong Kong is named the champion in World Competitiveness rankings, as compiled by IMD World Competitiveness Center.

Hong Kong was said to be able to retain its high ranking (it topped the charts last year with U.S.), due to the business reforms it has introduced over the past few months:

Abolished fuel tax on diesel and implemented reforms in its civil justice system; making its commercial dispute resolution mechanism more efficient and cost-effective.
Introduced a move to implement a one-stop online service for company incorporation and business registration.
Revamped the Companies Ordinance to make commercial law more business-friendly. Reforms were also introduced in the areas of registering property, dealing with construction permits, and closing a business.

Do you think Hong Kong deserves this sole bragging right?

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