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CE resigns
2005-2006 Budget
announced
HK ranked world's
freest economy again
AsiaWorld-Expo -- A
grand success
Entertainment Expo
-- a new era
Canadian Film Talents an
impetus to HK
HK -- Your “Smart Link” to
China
HK plays pivotal
role in China’s Growth
HK-China integration
creates new chances
Calgary companies
urged to leverage CEPA
First HK-Shanghai
investment promotion
Philips Casts Vote of Confidence in HK
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Hong Kong was honoured as the freest economy in the world for the 11th consecutive year by the Heritage Foundation (HF), which released its "2005 Index of
Economic Freedom" earlier this year.
"I am pleased that the virtues we have been upholding to keep Hong Kong flourish as a free market economy have once again been reaffirmed by the international community," said Mr. Henry Tang, the Financial Secretary of the Hong Kong Special Administrative Region.
According to HF, Hong Kong's virtues lie with its duty-free port with no barriers to trade, low level of government intervention in the economy, very low level of inflation, very low barriers to capital flows and 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 and a low level of informal market activity.
Mr. Tang said the Government remained firmly committed to maintaining Hong Kong as a free market economy that accords maximum scope to the private sector, and would continue to pursue a prudent fiscal strategy and strictly control public sector expenditure.
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