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Hong Kong remains ranked as world's freest economy

Hong Kong is ranked as the world's freest economy by the Cato Institute.

American think tank Cato Institute has again ranked Hong Kong as the world leader in economic freedom.

In its “Economic Freedom of the World 2015 Annual Report,” published on September 14, Hong Kong retained the highest rating for economic freedom with a score of 8.97 out of 10.

Welcoming the ranking, Hong Kong Commissioner to the United States Clement Leung said it asserted the fact that Hong Kong attaches great importance to free-market principles. “The ranking once again demonstrates our commitment to maintaining economic freedom, a small and efficient public sector, and a level playing field for all,” Mr. Leung said.

The annual report is produced in conjunction with the Fraser Institute in Canada and the Economic Freedom Network, a group of independent research and educational institutes in 90 nations and territories.

The report measures economic freedom by analyzing the policies and institutions of 157 countries and territories. The report ranks economies based on five broad areas: (1) size of government; (2) legal structure and security of property rights; (3) access to sound money; (4) freedom to trade internationally; and (5) regulation of credit, labor and business.

 


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