China ranks 31st, with 52.199 points, in the World Competitiveness Yearbook released by the Switzerland-based International Institute for Management Development (IMD). The US tops the ranking with 100 points among the 49 key economies.
This is the seventh time the IMD has issued its World Competitiveness Yearbook (WCY). The criteria are almost the same as 2001, including economic performance, government efficiency, business efficiency and infrastructure. China's 52.199 points moved it up two places from 33rd previously.
The fast and steady growth of China's economy in 2001 has been in the world spotlight against the background of declining economic growth rates and economic recession in developed countries. China's economic competitiveness increased from seventh in 2001 to third with 82.497 points as the result of the country's positive fiscal policies and steady economic development. China has been hovering around the low 30th in the WCY several times, mainly because of its steady economic growth.
The result also shows that China has great potential in world competitiveness in the trend towards economic globalization.
(china.org.cn by James Liu, July 5, 2002)
