Hong Kong has climbed two spots to rank third in the World Competitiveness Yearbook 2025 published Tuesday by the Switzerland-based International Institute for Management Development, marking the city's return to the top three for the first time since 2019.

Speaking ahead of an executive council meeting on Tuesday, John Lee, chief executive of China's Hong Kong Special Administrative Region (HKSAR), said that Hong Kong ranked third globally in competitiveness, reflecting that the HKSAR government's policies are yielding results.

Lee said that Hong Kong's competitiveness has improved significantly, scoring 99.2 marks in total, up 7.7 marks, which is the largest increase among the top 10.

Lee said he was encouraged over Hong Kong being ranked second globally in government efficiency, adding the report affirmed the city's world-class business environment and reflected the positive views of business leaders on Hong Kong's competitiveness.

He said that Hong Kong's strengths, including the rule of law, a simple and low tax regime, and the free flow of capital, information, goods, and people, are widely recognized by the business community.

The HKSAR government will continue to leverage Hong Kong's role as a "super-connector" and "value-adder" to deepen international exchanges and cooperation, enhance regional trade, pursue development, and improve people's livelihoods, Lee added.