HK keeps top spot as freest economy: Fraser Institute

Hong Kong has retained its status as the world's freest economy, according to a ranking by a Canadian think tank. The annual “Economic Freedom of the World” report released by the Fraser Institute also placed the city at the top for “freedom to trade internationally” and second globally in regulation. A government spokesman said the report affirmed the city’s strengths as a free-market economy. “Amid increasing global economic uncertainties and rising trade protectionism, Hong Kong remains firmly committed to maintaining its free port status, zero-tariff policy, and simple and low tax regime, providing a secure, stable, fair, predictable and internationalised business and investment environment for investors and entrepreneurs from around the world,” the spokesman said. The government added that the city’s favourable business environment has attracted global enterprises and talent. Edited by Edmond Fong