Hong Kong Retains Title as World's Freest Economy, Continues to Attract Businesses and Talent from Around the World

Title context: Hong Kong Retains Title as World's Freest Economy, Continues to Attract Businesses and Talent from Around the World Text: The Fraser Institute today (October 6) released its Economic Freedom of the World: 2026 Annual Report, in which Hong Kong continued to be ranked as the world's freest economy. Among the five areas of assessment, Hong Kong remained first globally in "Freedom to trade internationally" and second globally in "Regulation". A spokesman for the Hong Kong Special Administrative Region Government said, "The Fraser Institute's report once again affirms Hong Kong's free market advantages and its open, efficient and fair business environment. Amid rising global economic uncertainty and growing trade protectionism, Hong Kong firmly maintains its status as a free port, implements a zero-tariff policy and a simple low tax regime, providing domestic and overseas investors and entrepreneurs with a safe, stable, fair and predictable international business and investment environment." "The nation remains committed to high-level two-way opening up and continues to make breakthroughs in scientific and technological innovation, remaining a major stabiliser and Beijing Dynamic Power for world economic growth. Under 'one country, two systems', Hong Kong is backed by the motherland and connected to the world. On one hand, it provides convenient connectivity between the Mainland and international markets; on the other, it continues to practise the common law with both Chinese and English in use, and possesses financial, shipping, trade and professional services that dovetail seamlessly with the world's best standards, as well as an efficient government structure and a clean and professional civil service team. These elements allow Hong Kong's role and functions as a 'super connector' and 'super value-adder' to be fully brought into play, making it the best gateway for Mainland enterprises to go global and for overseas enterprises to enter the Mainland market. Since the beginning of this year, Hong Kong has continued to achieve outstanding results in a number of international competitiveness rankings concerning finance, innovation and technology (I&T), education and talent, reflecting that Hong Kong's core advantages and the efforts of the SAR Government in promoting high-quality social and economic development have been widely recognised by the international community." "In fact, Hong Kong's favourable business and living environment, together with the concerted efforts of the SAR Government and all sectors of society, continues to attract enterprises and talent from around the world. Last year, Hong Kong had more than 11,000 companies with parent companies overseas and in the Mainland operating in Hong Kong, up 11 per cent from 2024 and a record high. The Government established the Office for Attracting Strategic Enterprises in 2022 to attract, in a strategic and targeted manner, globally representative I&T enterprises with high growth potential to set up operations in Hong Kong. To date, it has successfully attracted more than 120 strategic enterprises, many of which are global industry leaders with a market capitalisation or valuation of over HK$100 billion and possessing cutting-edge technology. 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 attracting talent, from the end of 2022 to August this year, the various talent admission schemes have received more than 670,000 applications and approved more than 470,000, of which over 310,000 people have come to Hong Kong. Over the past year, Hong Kong's new listing fund-raising, bank deposits, and assets under management in the asset and wealth management industry have all recorded considerable growth, reflecting international investors' confidence in and recognition of Hong Kong." "The Chief Executive announced last month the First Five-Year Plan for Economic and Social Development of the Hong Kong Special Administrative Region (2026-2030) (the First Five-Year Plan for Hong Kong) and the 2026 Policy Address, setting out a blueprint for Hong Kong's social and economic development, proactively aligning with the nation's 15th Five-Year Plan and development strategies, better integrating into and serving the overall development of the nation, and achieving substantial development for itself. The First Five-Year Plan for Hong Kong states that Hong Kong will adhere to a free and open economic system with the free flow of capital, goods, people and information, which are all core advantages of Hong Kong under 'one country, two systems'. Looking ahead, with the solid support of the nation, the SAR Government will continue to work together with all sectors of society to further enhance the role and functions of the 'four centres and one', accelerate the development of the Northern Metropolis, inject stronger momentum into social and economic development, open up broader development space for local enterprises and residents, and provide greater opportunities for enterprises, investors and talent around the world."