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Hong Kong ranks as fourth most business-friendly economy

Hong Kong ranks as the world's fourth most business-friendly economy.

Hong Kong ranked as the world’s fourth most business-friendly economy in the World Bank’s latest Doing Business report, moving up one place from last year.

The annual ranking determines which economies have a regulatory environment most conducive to starting and operating a local firm by examining 10 indicators: ease of starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts and resolving insolvency.

Hong Kong rated highly in ease of starting a business, getting electricity, protecting minority investors and paying taxes, ranking third in each indicator. The city improved its ranking in ease of starting a business, moving up to third place from fourth, by reducing the business-registration fee. Hong Kong also streamlined the process of reviewing applications for new electrical connections, improving its ranking in ease of getting electricity to third from fifth last year.

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