Hong Kong: World’s freest economy for 25 years!
Hong Kong has retained its crown as the world’s freest economy, ranked No.1 in the newly released 2019 Index of Economic Freedom, by the US-based Heritage Foundation. This is the 25th year in a row that Hong Kong has achieved the top rating and is the only economy to score 90 points or more in the 2019 Index of Economic Freedom, with scores for trade freedom, monetary freedom and government integrity all increasing compared to last year.The Financial Secretary, Paul Chan, welcomed the announcement. “This achievement reaffirms the Government's steadfast commitment in upholding the free market principles over the years,” he said. “The Government will continue to uphold Hong Kong's fine tradition of the rule of law, maintain a simple and low tax system, improve government efficiency, safeguard the open and free trade regime and build a level playing field for all, so as to create a favourable environment for businesses in Hong Kong and promote Hong Kong's economic growth.”
Singapore is ranked second followed by New Zealand, Switzerland and Australia in the top five. The report states: "An exceptionally competitive financial and business hub, Hong Kong remains one of the world's most resilient economies."
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