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Hong Kong retains title as world’s freest economy

Hong Kong remains the world’s freest economy, according to the Fraser Institute’s Economic Freedom of the World 2026 Annual Report, released on October 6, which placed the city at the top for “Freedom to trade internationally” and second globally in “Regulation”. The Hong Kong Special Administrative Region (HKSAR) Government said the report reaffirmed the city’s strengths as a free-market economy, with an open, efficient and fair business environment. Amid economic uncertainties and rising trade protectionism, Hong Kong remains committed to maintaining its free port status, zero-tariff policy and simple, low tax regime, providing a secure, stable, fair, predictable and internationalised business and investment environment for entrepreneurs and investors worldwide. Under the “one country, two systems” principle, Hong Kong will continue to leverage its unique advantages as a “super connector” and “super value-adder”, serving as the premier gateway for Mainland enterprises to expand overseas and for international businesses to seek opportunities in the Mainland.

Hong Kong’s ranking in Global Innovation Index rises further

Hong Kong rose by one place to 14th globally among 139 economies and remained 5th in Asia in the Global Innovation Index 2026 published by the World Intellectual Property Organization on September 29. Its ranking in the “Innovation Input” sub-index remained 8th globally, while its ranking in the “Innovation Output” sub-index rose by one place to 21st. Hong Kong ranked second worldwide for market sophistication, while human capital and research, institutions and infrastructure placed sixth, seventh and 11th respectively. The HKSAR Government welcomed the progress, reaffirming that innovation and technology (I&T) remains a policy priority, and its commitment to developing Hong Kong into an international I&T centre, in line with the city’s First Five-Year Plan. It pledged to enhance the I&T institutional framework and develop the new “three major I&T parks and five key research and development institutions” paradigm. 

Five Hong Kong universities rank in top 100

Five Hong Kong universities continue to rank among global top 100, according to the Times Higher Education World University Rankings 2027. The University of Hong Kong ranks 33rd globally; the Chinese University ranks 42nd; and the University of Science & Technology ranks 58th. City University and Polytechnic University have risen to 70th and 79th respectively. The Education Bureau said these achievements reflected the robust strength of Hong Kong’s higher education system and its world-class levels in teaching, research, and international outlook. Looking ahead, Hong Kong will strengthen talent development, frontier scientific research, and industry-academia-research collaboration, optimise resources, support various institutions in consolidating their existing advantages while pioneering innovation, and nurture more outstanding talent.

New York ETO luncheon spotlights Hong Kong vibrant financial markets with HKEX CEO

The Hong Kong Economic and Trade Office in New York (New York ETO) hosted a luncheon on September 29 for Hong Kong Exchanges and Clearing (HKEX) Chief Executive Officer Bonnie Chan, bringing together guests from different sectors for an engaging exchange on Hong Kong’s financial markets, latest developments and future opportunities. In her welcome remarks, Director of New York ETO Maisie Ho highlighted the strength and vibrancy of Hong Kong’s securities market and the city’s longstanding economic ties with the United States. She outlined Hong Kong’s vision under its first Five-Year Plan, to further strengthen its role as an international listing and fundraising centre, enhance market infrastructure, and deepen connectivity between Chinese Mainland and global markets. During the luncheon, Ms Chan shared insights on the latest developments in Hong Kong’s stock market, including the vibrant IPO growth, the role of Stock Connect in connecting Mainland and international capital, and HKEX’s efforts to expand products and services. On October 1, the Foreign Policy Association (FPA) presented Ms Chan with its highest honour, the FPA Medal, recognising her leadership and HKEX’s contribution to regional economic development. Ms Ho congratulated Ms Chan, noting the award reflects HKEX’s growing international reach and connectivity under her leadership, as well as Hong Kong’s renewed momentum in IPOs, capital raising and investment flows.

US-China relations sharing by Hong Kong-based news media

The New York ETO, in collaboration with SCMP Plus and with the support of the Hong Kong Association of New York, hosted a fireside discussion titled “After the Summit: What’s Next for US-China Relations – A Conversation with Chow Chung-yan, Editor-in-Chief of South China Morning Post (SCMP)” on October 6. The event attracted around 50 guests from different sectors. In her opening remarks, Director of New York ETO Maisie Ho highlighted the importance of strengthened communication, cooperation and stable economic and trade ties between China and the US. Moderated by Senior Advisor to SCMP James Heimowitz, the conversation featured Mr Chow’s insightful perspectives on the evolving US-China relationship, exploring US-China economic interdependence, technological competition and domestic influences shaping the relationship, while highlighting the resilience of both countries and the need to look beyond binary narratives.

HKIC reappoints Clara Chan as CEO for a second three-year term

The Hong Kong Investment Corporation (HKIC) has reappointed Clara Chan as Chief Executive Officer for a term of three years starting October 9, 2026. Financial Secretary and HKIC Board Chaiman Paul Chan said Ms Chan, appointed as the HKIC’s inaugural CEO in October 2023, has led efforts to mobililse “patient capital” to support Hong Kong’s strategic industries and help Mainland companies expand overseas. The HKIC has invested in over 200 companies, with 11 portfolio companies listed in Hong Kong, with more than 30 have submitted or plan to submit listing applications in Hong Kong this year.

Fourth digital green bonds issued

The HKSAR Government has successfully priced around HK$20 billion (US$2.5 billion) worth of digital green bonds denominated in HK dollars (HKD), Renminbi, US dollars and euros under its Sustainable Bond Programme, setting a new record for the largest digital bond issuance in the world and reinforcing the Government’s commitment to promoting innovation in the bond market. Financial Secretary Paul Chan said the offering was oversubscribed, signalling strong market appetite for tokenised products issued in Hong Kong. For the HKD tranche, tokenised deposits, empowered by EnsembleTX, were incorporated into the primary issuance settlement process, marking the world’s first digital bond that integrates HKD tokenised deposits. This issuance also adopted the International Capital Market Association’s latest Bond Data Taxonomy Version 2.0, supporting greater data consistency, interoperability and end-to-end automation across the bond lifecycle.

IP financing sandbox cases approved

An initial batch of seven pilot cases under Hong Kong’s Intellectual Property (IP) Financing Sandbox have secured credit approval, covering electronics, construction, toy manufacturing and medical device sectors. Loans ranged from US$128,205 (HK$1 million) to US$5 million (HK$39 million), backed by patent and trade mark assets. This milestone demonstrates that Hong Kong can steadily develop IP financing while unlocking a new funding channel for enterprises. The Commerce & Economic Development Bureau, the Hong Kong Monetary Authority and the Intellectual Property Department will evaluate feedback and expand participating financial institutions while refining IP valuation processes. Concurrently, the HKSAR Government launched a two-year Pilot Patent Valuation Support Scheme, offering eligible small and medium-sized enterprises one-to-one matching grants of up to US$10,256 (HK$80,000) to commission qualified valuation service providers. The initiative aims to strengthen IP valuations, support credit financing, and foster a robust local IP trading ecosystem.

Hong Kong’s record showing at the Asian Games

The Hong Kong, China Delegation delivered an outstanding performance at the 20th Asian Games in Aichi-Nagoya, Japan, securing a record total of 54 medals, including 11 gold, 19 silver and 24 bronze medals, making this the city’s best-ever performance in Asian Games history. Gold medals were claimed in wushu, swimming, rowing, squash, sailing, tennis, windsurfing and rugby sevens with the squash, sailing and tennis teams achieving historic results. The medal haul also marked the city’s highest number of gold and overall medals at the Games. Chief Executive John Lee congratulated and commended the athletes for demonstrating their perseverance and exceptional prowess in the competitions.

Four Hong Kong bars shine globally, led by Bar Leone

Hong Kong’s Bar Leone is named The World’s Best Bar 2026 at the 18th edition of The World’s 50 Best Bars Awards held in Milan on October 7, retaining its coveted number one spot for the second consecutive year! Co-founded by Lorenzo Antinori and Justin Shun Wah, Bar Leone brings the spirit of traditional Roman neighbourhood bars to Hong Kong, serving up approachable cocktails, warm hospitality and a taste of la dolce vita. Hong Kong’s vibrant cocktail scene is also represented by three other bars on this year’s list. Argo at Four Seasons Hotel Hong Kong returns at No. 25, while newcomers Montana and Gokan make their debuts at No. 36 and No. 41, respectively. Gokan’s founder, Shingo Gokan, also received the Roku Industry Icon Award. These accolades showcase Hong Kong’s creativity, world-class hospitality and international appeal, further cementing the city’s reputation as a global destination for food and drink.

Hong Kong rejects US trafficking report

The HKSAR Government strongly rejected the US Department of State's Trafficking in Persons Report 2026, describing its remarks on Hong Kong as false and groundless. In an October 9 statement, the HKSAR Government pointed out that the rating of Hong Kong at Tier 3 is entirely unfounded and an attempt to tarnish Hong Kong’s reputation. The Government maintained that trafficking in person (TIP) has never been prevalent in Hong Kong, with no evidence the city is used by syndicates as a destination or transit point for TIP. It highlighted Hong Kong’s proactive, multi-pronged strategy, with substantial resources being injected into combatting TIP and enhancing protection for foreign domestic helpers. The Government reiterated that the city’s current legislative framework, comprising over 50 legal provisions against various TIP conducts, provides comprehensive safeguards comparable to dedicated TIP laws found in other jurisdictions.

The Basic Law (BL) is the constitutional document of the HKSAR. It provides the guarantees to maintain our existing way of life, including socio-economic development, the rights and duties of Hong Kong people, the rule of law and other areas. The Basic Law was put into effect on July 1, 1997.

Q: Are private shipping companies allowed to continue operating freely in the HKSAR?

A: Yes. With the exception of foreign warships, access for which requires the special permission of the Central People’s Government, ships shall enjoy access to the ports of the Hong Kong Special Administrative Region in accordance with the laws of the Region. Private shipping businesses and shipping-related businesses and private container terminals in the HKSAR may continue to operate freely. (BL Article 126, 127)