HK is still the world’s freest economy: Fraser Institute

It held the top rank since the inception of the annual economic freedom report.
 
Despite a 0.28 point drop in its rating, Hong Kong still ranked first in the latest Economic Freedom of the World report by the Fraser Institute, making it the freest economy in the world.
 
According to the Fraser Institute, Hong Kong has held the top rank in the index since the inception of its annual economic freedom report in 1980. Frasers Institute issued the report in 1980, 1990, 2000, 2010, 2015, 2019, and 2020, with the latter being the latest edition.
 
Fraser Institute measures the degree of economic freedom in five areas – the size of government, legal system and property rights, sound money,  freedom to trade internationally, and regulation.
 
Hong Kong got a rating of 8.24, 7.5, 9.65, 8.73, and 8.84 in the five areas, respectively.
 
The government, for its part, welcomed the Fraser Institute's ranking, adding that the result affirms the city’s “commitment to maintaining an efficient, free, open and fair business environment.”
 
The government added that it will continue to consolidate Hong Kong's strengths ---  free flow of capital, free trade, judicial independence, and more  ---  to provide a conducive environment for businesses.