Hong Kong continues to be world's freest economy
Hong Kong continues to be rated as the world's freest economy in the Economic Freedom of the World 2026 Annual Report released by the Fraser Institute today (October 6). Among the five areas of assessment, Hong Kong again ranks first in "Freedom to trade internationally" and remains second globally in "Regulation".
A spokesman for the Hong Kong Special Administrative Region (HKSAR) Government said, "The Fraser Institute's report once again affirms Hong Kong's strengths as a free-market economy and its open, efficient and fair business environment. Amid increasing global economic uncertainties and rising trade protectionism, Hong Kong remains firmly committed to maintaining its free port status, zero-tariff policy, and simple and low tax regime, providing a secure, stable, fair, predictable and internationalised business and investment environment for investors and entrepreneurs from around the world.
"Our country remains committed to high-standard two-way opening up and continues to achieve breakthroughs in technological innovation, remaining a major stabilising force and driving engine for global economic growth. Under the 'one country, two systems' framework, Hong Kong enjoys the strong support of the motherland and maintains close connections with the world. While offering convenient access to both the Mainland and international markets, Hong Kong continues to practise common law in both Chinese and English. It also offers financial, shipping, trading and professional services that align seamlessly with international best standards, supported by an efficient government structure and a clean and professional civil service. These strengths enable Hong Kong to fully leverage its roles and functions as a 'super connector' and 'super value-adder', making it the best gateway for Mainland enterprises to enter international markets and for overseas enterprises to enter the Mainland. So far this year, Hong Kong has continued to scale new heights in various international competitiveness rankings covering finance, innovation and technology (I&T), education and talent, reflecting wide recognition by the international community of Hong Kong's core strengths and the HKSAR Government's efforts to promote high-quality social and economic development.
"Indeed, Hong Kong's favourable business and living environment, coupled with the proactive and concerted efforts of the HKSAR Government and all sectors of the community, continues to attract enterprises and talent from around the world. Last year, the number of companies in Hong Kong with parent companies overseas or in the Mainland exceeded 11 000, an increase of 11 per cent over 2024 and a record high. The Government established the Office for Attracting Strategic Enterprises (OASES) in 2022 to adopt a strategic and targeted approach to attracting globally representative I&T enterprises with high growth potential to establish a presence in Hong Kong. To date, OASES has successfully attracted over 120 strategic enterprises, including many global industry leaders with a market capitalisation or valuation exceeding HK$100 billion and possessing cutting-edge technologies. In the first eight months of this year, Invest Hong Kong also assisted about 520 Mainland and overseas enterprises in setting up or expanding their businesses in Hong Kong. On talent attraction, from end-2022 to August this year, over 670 000 applications were received and over 470 000 were approved under various talent admission schemes, with more than 310 000 individuals having arrived in Hong Kong. Over the past year, Hong Kong recorded considerable growth in funds raised through initial public offerings, bank deposits and assets under management in the asset and wealth management business, reflecting international investors' confidence in and recognition of Hong Kong.
"Last month, the Chief Executive announced the First Five-Year Plan for Economic and Social Development of the Hong Kong Special Administrative Region (2026-2030) (Hong Kong's First Five-Year Plan) and the 2026 Policy Address, setting out a blueprint for Hong Kong's social and economic development, proactively aligning with the National 15th Five-Year Plan and development strategies, and enabling Hong Kong to better integrate into and serve the overall national development while achieving substantial progress in its own development. Hong Kong's First Five-Year Plan states that Hong Kong will remain committed to a free and open economic system and the free flow of capital, goods, people and information, all of which are Hong Kong's core strengths under the 'one country, two systems' framework. Looking ahead, with the staunch support of our country, the HKSAR Government will continue to work with all sectors of the community to further enhance Hong Kong's roles and functions as 'four centres and one hub' and accelerate the development of the Northern Metropolis. These efforts will inject stronger impetus into social and economic development, open up broader development prospects for local enterprises and the public, and provide greater opportunities for enterprises, investors and talent worldwide."
Source: AI-found images
