HKSAR gov't welcomes Hong Kong ranked as world's freest economy

HONG KONG -- The Hong Kong Special Administrative Region (HKSAR) government on Thursday welcomed that Canada's Fraser Institute once again ranked Hong Kong as the world's freest economy in the Economic Freedom of the World 2022 Annual Report.

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."

A government spokesperson said that Hong Kong has been striving to improve the business environment and enhance market efficiency and support, thereby allowing the economy to display flexibility and resilience, and leverage the advantages of the free market.

The HKSAR government's commitment to maintaining an efficient, free, open, and fair business environment is once again affirmed, the spokesperson said.

The spokesperson said that Hong Kong's distinctive status and edges include the rule of law and judicial independence, free flow of capital, a free trade and investment regime, a simple and low tax system, a favorable business environment, and an efficient and clean government.

"The HKSAR government will continue to consolidate these strengths and provide a conducive environment for businesses to thrive and to strengthen their competitiveness, thereby enabling the economy to prosper," the spokesperson said.

Looking forward, Hong Kong, under the principle of "one country, two systems", will leverage the motherland's strong support and connection with the world market, continue to play its unique role, create a strong impetus for growth, and actively integrate into the overall development of the country, the spokesperson said.

The spokesperson added that Hong Kong will also dovetail with national strategies such as the country's 14th Five-Year Plan, the Guangdong-Hong Kong-Macao Greater Bay Area development, and high-quality Belt and Road cooperation, seizing the opportunities ahead.