China remains important global economic driver

China remains an important driver of the global economy in spite of its own economic slowdown, as shown by the country's overall competitiveness in Asia having moved up to ninth place in 2013 from 10th the previous year, a new report showed on Wednesday.

The Boao Forum for Asia issued the report on Asian competitiveness for the past three years.

The report said the improvement of China's competitiveness was partly attributed to rising innovation capabilities and progress in social causes.

The Chinese government took measures to promote disease control, combat environmental pollution, improve housing and medical environments and intensify anti-corruption efforts, the report said.

Among the 37 economies in Asia that the Boao Forum Asia secretariat tracks, Singapore again topped the list for 2013, followed by the Republic of Korea and Hong Kong.

The report also noted that the investment environment in Asia is worsening, which is a problem most Asian companies are facing.

The report said the shrinking sales scale of the market led to rising costs for companies, adding difficulties for them.

Currency reserve to assist liquidity

Managing forex reserves