Hong Kong has once again been recognized as the world's freest economy, according to the Economic Freedom of the World 2026 Annual Report released on October 6 by the Canada-based Fraser Institute. The city secured the top spot among 165 jurisdictions, with Switzerland placing second. The Hong Kong Special Administrative Region (HKSAR) Government welcomed the report, highlighting that Hong Kong ranked first globally in "Freedom to trade internationally" and second in "Regulation." This achievement reinforces Hong Kong's position as a leading free-market economy and a premier destination for international business and investment.
A spokesman for the HKSAR Government stated that the Fraser Institute's report affirms Hong Kong's strengths as a free-market economy with an open, efficient, and fair business environment. Amid increasing global economic uncertainties and rising trade protectionism, Hong Kong remains committed to maintaining its free port status, zero-tariff policy, and simple low tax regime. These policies provide a secure, stable, fair, predictable, and internationalized environment for investors and entrepreneurs worldwide. The ranking is particularly significant as it demonstrates Hong Kong's ability to uphold economic freedom despite global challenges, offering a safe haven for capital and trade.
Under the "one country, two systems" framework, Hong Kong enjoys strong support from the Chinese Mainland while maintaining close connections with the rest of the world. The city practices common law in both Chinese and English, and offers financial, shipping, trading, and professional services that align with international best standards. Supported by an efficient government structure and a clean civil service, these advantages enable Hong Kong to serve as a 'super connector' and 'super value-adder,' facilitating access between Mainland and international markets. This unique positioning is crucial for businesses seeking to navigate the complexities of global trade and investment.
Hong Kong's attractiveness is further evidenced by its continued success in attracting investment and talent. Last year, the number of companies with parent companies overseas or in the Mainland exceeded 11,000, an 11 percent increase over 2024 and a record high. The Office for Attracting Strategic Enterprises (OASES), established in 2022, has attracted over 120 strategic enterprises, including global leaders with market capitalizations exceeding $100 billion. On the talent front, from end-2022 to August this year, over 670,000 applications were received and over 470,000 approved under various talent admission schemes, with more than 310,000 individuals arriving in Hong Kong. These figures reflect the international community's confidence in Hong Kong's core strengths and the government's efforts to promote high-quality development.
Looking ahead, the HKSAR Chief Executive, John Lee, announced the First Five-Year Plan for Economic and Social Development (2026-2030) and the 2026 Policy Address last month. The plan reaffirms Hong Kong's commitment to a free and open economic system and the free flow of capital, goods, people, and information. As the spokesman noted, these efforts will inject stronger impetus into social and economic development, open broader prospects for local enterprises and the public, and provide greater opportunities for enterprises, investors, and talent worldwide. For more information on Hong Kong's advantages, visit https://www.brandhk.gov.hk/. This announcement was distributed by Media OutReach Newswire.
