【明報專訊】In the latest World Competitiveness Yearbook (hereinafter the Yearbook) published by the International Institute for Management Development (IMD) in Lausanne, Switzerland, Hong Kong's overall ranking has climbed back two places to fifth. The main contributing factor is the improvement in Hong Kong's macroeconomic performance after the city returned to normal from the pandemic last year. However, a closer look at Hong Kong's performance at the sub-category level reveals a mixed result.