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A report by the Fraser Institute of Canada released on July 15 in conjunction with 61 other research institutes has again placed Hong Kong at the top of the list of the world’s freest economies. Hong Kong has consistently ranked first since the list was published in 1996.
The Hong Kong Financial Secretary, Mr Henry Tang, said, “A free market economy is the bedrock of Hong Kong’s success. The Hong Kong Government will continue to create the best possible environment for business and to facilitate the market’s operation and promote its development.”
The Acting Director of the Hong Kong Economic and Trade Office (Canada), Mr Kenneth Cheng, said that Hong Kong’s rating “demonstrates that Hong Kong is the ideal place for doing business in the world, especially for foreign companies, including those in Canada.”
The report compared the level of economic freedom in 123 economies. Apart from the overall top ranking, Hong Kong also ranks first in ‘size of government’, ‘freedom to trade internationally’ and ‘regulation of credit, labour and business’.
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