The "2023 World Competitiveness Annual Report" was released earlier. Although Hong Kong is fully promoting the pace of returning to normal, its ranking has dropped from fifth to seventh last year. The change in rankings is, on the one hand, affected by the adjustment of various indicators in the report, and there are certain subjective factors that do not need to be over-interpreted; but on the other hand, some development weaknesses pointed out by industry experts are worthy of our humble view. Among various scores, Hong Kong's rankings in the local economy, job market, productivity and efficiency fell the most. It can be seen that Hong Kong's economy must grow both in terms of total volume and improve quality in order to maintain international competitiveness.