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Hong Kong’s rebuffs exclusion from 2021 Index of Economic Freedom

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Thursday, 4 March 2021, Hong Kong Special Administrative Region (HKSAR): A governmental spokesman as per statement below, expressed deep disappointment and serious dismay at the Heritage Foundation‘s decision to exclude Hong Kong from its 2021 Index of Economic Freedom.

“The decision is neither warranted nor justified. It does not do justice to the HKSAR, which topped the chart as the world’s freest economy for 25 years out of the Index’s 27-year history”. 

“The HKSAR enjoys a high degree of autonomy over its economic and trade policies as enshrined in our Basic Law”.

The spokesman said that the HKSAR Government would continue to uphold Hong Kong’s institutional strengths, including the rule of law and independence of the judiciary, a simple and low tax system, an efficient government, a free trade and investment regime and a level-playing field for all so as to create a favourable environment for business to thrive and enable the economy to prosper.

 “As a sophisticated international metropolis highly connected to the world, Hong Kong has been playing a unique role as a gateway, a springboard and an intermediary between China and the rest of the world. We will continue to leverage on the advantages of ‘one country, two systems’ to consolidate our position as an international centre for finance, commerce and trade as well as a home for corporate headquarters. We have every confidence in Hong Kong’s long-term economic development.”

The 2021 Index of Economic Freedom report was released by the Foundation on March 4, 2021, analysing the level of economic freedom of 178 economies. Hong Kong was not included in this report.

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