8 2 11 3 2 12 1 2 7 7 2 4 9 33 8 6 16 8 1 8 13 4 6 14 18 11 5 23 11 1 24 54 1 13 35 15 40 14 3 4 26 14 62 21 36 19 15 7 12 Sweden Finland Singapore Hong Kong Israel Mainland China Overall GII rank Institution Human capital & research Infrastructure Market sophistication Business sophistication Knowledge & technology output Creative outputs 1.2.2 Among the 131 economies, Sweden, Finland, Singapore and Israel excel in technology and innovation and are similar to Hong Kong in terms of the level of economic development and population. Hence, these economies, together with Mainland China and Hong Kong, are selected for comparison. 1.2.3 According to the research framework of the “Global Innovation Index 2020” (Table 1.1), although Hong Kong is ranked 11th overall, and even ranked 1st in the pillars of “Market sophistication” and “Creative outputs”, it is only ranked 54th in “Knowledge and technology output”, well behind the other economies on the list. Singapore is often selected for comparison with Hong Kong. Regarding this index, even though Singapore’s overall ranking is only 3 places ahead of Hong Kong, it is 40 places ahead in terms of “Knowledge and technology output” (Table 1.2). Table 1.2 Global Innovation Index 2020 Rankings Overall and by Pillar 7 7 WIPO, Global Innovation Index 2020 1 The Urgency for Further Developing Hong Kong’s Technology and In novation Industries
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