Hong Kong retains top APAC spot for ease of doing business

The city's simple and low tax system attracts investors.

Hong Kong maintained its position as the least complex jurisdiction for doing business in APAC, TMF Group reported.

The city improved its ranking in the 2024 Global Business Complexity Index (GBCI), falling to 76th from 74th last year.

Though banking methods complicate business setup, the city's low taxes are a strong draw. Additionally, the city has embraced AI and outsourcing to address high salary demands.

Mainland China has ascended to 11th place in this year's GBCI, making it the most complex APAC jurisdiction, up from 15th in 2023.  

Indonesia follows behind at 16th place, and South Korea at 19th.