Fraser Institute ranks Hong Kong ‘freest economy’ per 2019 data, as gov’t welcomes – and refutes – analysis

The Hong Kong government has welcomed an annual report that ranked the city as the freest economy in the world based on data from 2019. But the authorities also refuted remarks that the implementation of the Beijing-imposed national security law may cause a “degradation” in its future ratings.

The government on Tuesday hailed the Economic Freedom of the World 2021 Annual Report by the Fraser Institute, saying it was an “unequivocal affirmation” of Hong Kong’s “steadfast commitment” in building a free economy.

Photo: GovHK.

Hong Kong scored an overall rating of 8.91 out of 10, coming in first, followed by Singapore and New Zealand. The index was based on statistics from two years ago, researchers said, as they reviewed the extent of government influence on individual economic freedom and the protection of people and their property. The Canada-based organisation also evaluated inflation volatility, the freedom to trade internationally, and the degree of government regulation.


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