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Hong Kong has been ranked the freest economy in the world for the 10th consecutive year in the 2004 Index of Economic Freedom, released by the Heritage Foundation in January.
According to the Foundation, Hong Kong’s strengths include:
• duty-free port
• very low level of government involvement in business activities
• very low inflation
• very low barriers to foreign investment
• very low level of restrictions in banking and finance
• low level of intervention in wages and prices
• strong property rights
• very low level of regulation
• low level of informal market activity
The Hong Kong Financial Secretary, Mr Tang, expressed his pleasure at the ranking and said the Hong Kong Special Administrative Region Government was firmly committed to maintaining Hong Kong as a free market economy that accords maximum scope to the private sector.
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