Hong Kong continues to have world’s freest economy
Hong Kong remains the world’s freest economy, according to the Economic Freedom of the World: 2008 Annual Report released September 16 by the Cato Institute. It is the 12th consecutive year Hong Kong has received the highest rating.

The September 16 report, produced by Canada’s Fraser Institute and the Economic Freedom Network, a group of independent institutes in 75 nations and territories, ranks 141 economies for 2006, the most recent year for which data are available, on policies that are supportive of economic freedom.

Paralympic Equestrian Events achieve unbridled success
Speaking after completion of all Paralympic Equestrian Events on September 11, Hong Kong Chief Secretary for Administration Henry Tang said Hong Kong had staged the most successful Paralympic Equestrian competition. He also described the competition as an inspirational occasion that has left the city with an Olympic and Paralympic legacy.

New commissioner appointed
The Hong Kong Special Administrative Region Government announced that Donald Tong Chi-keung will succeed Margaret Fong Shun-man as Commissioner for Economic and Trade Affairs, USA, on October 20, 2008.

Mr. Tong joined the government in August 1983 as an Executive Officer. He transferred to the Administrative Service in July 1987 and rose to his present rank of Administrative Officer Staff Grade B1 in April 2008.

Official says creativity, innovation are key to global competition
Global competition has shifted from where price was the major determinant to a world where creativity and innovation take the lead, according to Hong Kong Financial Secretary John C. Tsang.

The innovation required to transform an economy, or even an enterprise, requires highly focused and disciplined thinking, as well as meticulous implementation skills, Mr. Tsang noted recently at the Workshop on Disruptive Innovation on September 17.

Hong Kong reaffirmed as Asia’s leading city for international business
Hong Kong’s status as one of the world’s and Asia’s leading destinations for foreign direct investment (FDI) and sources of outward FDI has been reaffirmed by the World Investment Report 2008, released September 25 by the United Nations Conference on Trade and Development.

Hong Kong was the world’s seventh and Asia’s second largest FDI recipient, attracting US$59.9 billion inward investment in 2007. Mainland China ranked first in Asia Pacific in FDI inflows, reaching US$83.5 billion.

Comic illustrator wins international Manga award
On August 29, Hong Kong Secretary for Commerce and Economic Development Rita Lau met Hong Kong comic illustrator Lau Wan-kit to congratulate him on his comic series “Feel 100%,” which won the Gold Award at the Second International Manga Award. The award is organized by Japan's Ministry of Foreign Affairs.