Press Release - June 25, 2002

The Hong Kong Economic and Trade Office in Canada (HKETO) welcomes the announcement by the Fraser Institute of Hong Kong being once again rated as the freest economy in the world in its Economic Freedom of the World: 2002 Annual Report released today (June 25).

The Director of the HKETO, Mrs Rosanna Ure, said that she is very pleased to learn that Hong Kong was once again rated as the freest economy with a rating of 8.8 (out of 10).

�The fact that Hong Kong retains its position as the world�s freest economy further proves that it is the ideal place for doing business, especially for foreign companies. Hong Kong will continue to maintain its openness, rule of law, free flow of information, transparency and a level playing field for investors,� Mrs Ure added.

Published by Canada�s Fraser Institute in conjunction with the US-based Cato Institute, and a network of independent institutions in 54 other nations, the Economic Freedom of the World: 2002 Annual Report ranked 123 nations on economic freedom which include such core elements as personal choice, voluntary exchange, freedom to compete and protection of persons and property, all of which requires the rule of law, property rights, limited government intervention, freedom to trade, and sound money.

Singapore was rated as the second freest economies after Hong Kong, following by the United States (3rd), the United Kingdom (4th), New Zealand (5th), Switzerland (6th), Ireland (7th), Australia (8th), Canada (9th) and the Netherlands (10th).


For more information, please contact
John Tam, Chief Information Officer of Hong Kong Economic and Trade Office at (416) 924-5544 or e-mail: [email protected] or
Elison Chu, Senior Information Officer, at [email protected].