Hong Kong Again Ranked World's Freest Economy
Hong Kong remains the world's freest economy, for the 13th year in a row, according to the findings of the Fraser Institute of Canada's Economic Freedom of the World: 2009 Annual Report.
The report ranks 141 economies on policies that support economic freedom. Hong Kong has been holding the top place since the annual survey was started, and it pays tribute to the city's commitment to free trade and open markets, and the elimination of barriers to trade and investment.
The findings take into account the size of government; legal structure and security of property rights; access to sound money; freedom to trade internationally; and regulation of credit, labour and business. With the highest overall score of 8.97 out of 10, the city was also ranked first for freedom of international trade, scored 9.6.
All these factors make Hong Kong very attractive to companies around the world that invest in or trade with the SAR.
The Fraser Institute is an independent economics and public policy think-tank; it first published the report in 1996. The 2009 report ranked Singapore and New Zealand in second and third places, respectively. The institute's findings are consistent with the 2010 Index of Economic Freedom, published by The Heritage Foundation, a Washington-based think-tank, and The Wall Street Journal, in which Hong Kong has topped for 16 consecutive years.
1. Economic Freedom of the World: 2009 Annual Report, Fraser Institute, Canada
2. 2010 Index of Economic Freedom, The Heritage Foundation, Washington and The Wall Street Journal