HK Again Ranked Freest Economy

The Government today welcomed the Heritage Foundation's recognition of Hong Kong as the world's freest economy for the 24th consecutive year.

Chief Executive Carrie Lam received a copy of the 2018 Index of Economic Freedom report from the foundation’s founder Edwin Feulner at Government House on January 31.

In the report, issued today, Hong Kong’s overall score improved by 0.4 of a point over last year to reach 90.2, making it the only economy with an overall score of more than 90.

Among the 12 components measured in the report, Hong Kong achieved high scores of 90 or above in eight, and obtained top scores in fiscal health, business freedom, trade freedom and financial freedom.

The foundation recognised Hong Kong’s economic resilience, high-quality legal framework, low tolerance for corruption, high degree of government transparency, efficient regulatory framework and openness to global commerce.

Financial Secretary Paul Chan said: “I am glad Hong Kong has been ranked the world’s freest economy for 24 consecutive years. Our steadfast commitment in upholding free market principles in Hong Kong is again affirmed internationally.

“The Government will strive to uphold Hong Kong’s strengths, including the rule of law and judicial independence, a simple and low tax system, an open and free trade regime, a level-playing field for all businesses and an efficient public sector.”