HKSAR government welcomes Hong Kong ranked as world's freest economy

The Hong Kong Special Administrative Region government on Sept 14 welcomed that Canada's Fraser Institute once again ranked Hong Kong as the world's freest economy in the Economic Freedom of the World 2021 Annual Report.

"This is an unequivocal affirmation of Hong Kong's long-standing and steadfast commitment to building a free economy with a level playing field," a government spokesman said.

Hong Kong has gained the top rank since the inception of the report. In this year's report, among the five areas of assessment, Hong Kong continued to rank top in "Freedom to Trade Internationally" and "Regulation."

As an inalienable part of China, Hong Kong enjoys a high degree of autonomy under "one country, two systems" and comes directly under the central government, the spokesman said.

The HKSAR government will continue to uphold Hong Kong's institutional strengths, including the rule of law and judicial independence, a free trade and investment regime, a simple and low tax system, a favorable business environment and an efficient and clean government.

These strengths will continue to provide a conducive environment for businesses to thrive and to strengthen their competitiveness, thereby enabling the economy to prosper, the spokesman said.

Source: Xinhua