2016-02-02
The Government today welcomed the Heritage Foundation's ranking of Hong Kong as the world's freest economy for the 22nd consecutive year, saying it is determined to safeguard the city's economic freedom.
Among the 10 components measured in the 2016 Index of Economic Freedom Report, Hong Kong achieved high ratings of 90 or above in seven components, with the top positions in Business Freedom, Trade Freedom and Financial Freedom.
The report also recognised Hong Kong's prudent economic policy, high level of market openness, fiscal discipline and stable and transparent legal environment, as well as well-secured property rights, which maintained the city's leading role as a global business and financial hub.
The city's overall score dipped slightly compared to the previous report, but the gap with the second freest economy, Singapore widened slightly after narrowing for five consecutive years.
Both cities' overall scores remained close and the Government noted it was a timely reminder that, with other regional economies progressing forward, Hong Kong must closely keep up with the pace of global economic development and strive to enhance global competitiveness.
The Government will also continue with its best endeavours to uphold the rule of law and an independent judiciary.
Source: news.gov.hk 2 Feb 2016