China is by far the best performer among the five BRICS economies in terms of competitiveness, said the World Economic Forum (WEF) Wednesday in the latest annual report assessing the productivity and long-term growth of 141 economies.
China ranks 28th among the world economies, 15 places ahead of the Russia, 32 places ahead of South Africa and some 40 places ahead of both India and Brazil, showed the 2019 Global Competitiveness Report by the WEF.
China’s position in the ranking was unchanged from last year, but its overall score increased by 1.3 points, the report showed.
The report measured an economy’s performance through 103 indicators in 12 “pillars,” showing that China has obvious strengths in various areas such as the sheer size of its market, macroeconomic stability, the Information Communication and Technology (ICT) adoption, and increasing innovation capability.
In the ICT Adoption, China outperformed 25 of the 36 member countries of the Organization for Economic Co-operation and Development (OECD).