Hong Kong again ranked world's freest economy by Fraser Institute
Hong Kong has been ranked the world's freest economy for another year by the Fraser Institute, the Hong Kong government said on 6 October. The government attributed the ranking to its free port, zero tariffs and simple low tax regime, as well as its role as a super-connector under 'one country, two
The Hong Kong Special Administrative Region (SAR) government has announced that Hong Kong has again been ranked the world's freest economy by the Fraser Institute. In a statement on 6 October, a government spokesperson said the report reaffirmed Hong Kong's free-market advantages and its open, efficient and fair business environment.
"At a time of rising global economic uncertainty and trade protectionism, Hong Kong firmly maintains its free-port status, zero-tariff policy and simple low tax system, providing a safe, stable, fair and predictable international business and investment environment for domestic and foreign investors and entrepreneurs," the spokesperson said.
The spokesperson highlighted that under 'one country, two systems', Hong Kong serves as a gateway connecting mainland China and international markets. It operates a common-law system in both Chinese and English, and offers financial, shipping, trade and professional services that align with international best practices, alongside an efficient government and a clean, professional civil service. These factors enable Hong Kong to fully function as a 'super-connector' and 'super-value-adder', the spokesperson added.
According to the government, Hong Kong's good business and living environment, combined with concerted efforts from the government and various sectors, continue to attract enterprises and talent from around the world. Last year, over 11,000 companies with parent companies overseas or in mainland China had operations in Hong Kong, an 11 per cent increase from 2024, a record high. Since its establishment in 2022, the Invest Hong Kong's dedicated office for attracting strategic enterprises has brought in over 120 key enterprises, many of which are global industry leaders with a market value or valuation of over HK$100 billion and cutting-edge technology. In the first eight months of this year, Invest Hong Kong also assisted about 520 mainland and overseas companies in setting up or expanding their businesses in Hong Kong.
On talent attraction, the government noted that since late 2022, various talent admission schemes had received over 670,000 applications and approved over 470,000 as of August this year, with over 310,000 people having arrived in Hong Kong. The spokesperson also noted notable growth in new share capital raised, bank deposits, and assets under management in the asset and wealth management industry over the past year, reflecting international investors' confidence in Hong Kong.
The spokesperson said the Chief Executive had last month announced the 'First Five-Year Plan for Economic and Social Development of the Hong Kong SAR (2026-2030)' and the 2026 Policy Address, which set out a blueprint for social and economic development that aligns with the national '15th Five-Year Plan' and development strategy. The plan states that Hong Kong will adhere to a free and open economic system with free flow of capital, goods, people and information, which are core advantages under 'one country, two systems'. The spokesperson added that the SAR government would continue working with all sectors to further enhance Hong Kong's role as 'four centres and one highland', accelerate the development of the Northern Metropolis, and provide greater opportunities for local businesses, residents, and global enterprises, investors and talent.
