Hong Kong rated as world's freest economy once again
The Hong Kong Special Administrative Region Government today (September 28) welcomed the Fraser Institute's recognition of Hong Kong as the freest economy in the world in its latest report on economic freedom.
"The Fraser Institute's high regard of Hong Kong once again affirms our long-standing commitment in upholding economic freedom and in sustaining a favourable business environment," a government spokesman said.
"In light of keen global competition, we will continue to uphold the principles of economic freedom, which is vital for Hong Kong to maintain its competitiveness," he added.
Among the five broad areas of assessment, Hong Kong continued to attain high ranking in "regulation" (first) and "freedom to trade internationally" (second) in the latest report.
"We will strive to uphold our institutional strengths, including an open and free environment for trade and business, the fine tradition of the rule of law and an independent judiciary, as well as an efficient government, so as to further promote the economic prosperity of Hong Kong," the spokesman said.
"The press release of the Fraser Institute states that there is a concern that Mainland China's interference will lead to a deterioration of the rule of law of Hong Kong. We must point out that there are no objective facts showing that the rule of law or judicial independence in Hong Kong has been undermined. We remain highly confident about the rule of law and judicial independence in Hong Kong, and will endeavour to enhance the proper understanding of the international community in this respect through different channels. Besides, we note that Hong Kong’s performance in the broad area of "legal system and property rights" in the report remained largely the same as that of last year," the spokesman added.
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