Hong Kong Falls Out of 10 In Global Innovation Index
21 September 2015
Hong Kong has fallen out of the top 10 in the 2015 Global Innovation Index, an annual study conducted by leading business schools and the World Intellectual Property Organisation (WIPO).
The research ranked Hong Kong at 11th place out of 141 countries and economies, higher than some leading advanced economies such as Germany, Canada, Australia and Japan, but lower than regional rival Singapore.
Hong Kong’s ranking has risen and fallen in recent years, but it was in the top 10 from 2012 to 2014, ranked at 8th, 7th and 10th places respectively.
Despite the overall decrease in its ranking, Kris Cheng from Hong Kong Free Press says that Hong Kong did well in some performance indices, namely regulatory quality, GDP per unit of energy use, the availability of domestic credit to the private sector, protection of investors, how easily start-ups and other companies can be capitalized, the intensity of local competition, and high-tech imports.
