Hong Kong has retained its ranking as the world’s freest economy, buoyed by its open trade environment and streamlined regulatory framework, according to an annual report released by a Canadian think tank.
The Fraser Institute’s latest “Economic Freedom of the World” index placed the Asian financial hub in the top spot globally, highlighting its leadership in international trade freedom. The city also earned the second-place ranking worldwide in business regulation.
A Hong Kong government spokesman welcomed the findings, saying the report affirms the territory’s fundamental strengths as a free-market economy amid broader international headwinds.
“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 in a statement.
Officials added that the city’s market-oriented environment and institutional advantages continue to draw international enterprises and global talent.
