20 10 Economic Freedom Index Report

The 20 10 economic freedom index report published by the American Heritage Foundation rated Hong Kong as the freest economy in the world. This is the first consecutive 16 year that Hong Kong has won this honor, and the Hong Kong Government welcomes this. According to the report, the overall score of 20 10 in Hong Kong is 89.7, which is much higher than the global average of 59.4. In the rankings, Singapore ranks second and Australia ranks third. Heritage Foundation means that Hong Kong has a competitive tax system, intellectual property protection, a flexible labor market, and a highly educated and motivated workforce, which make Hong Kong an innovative and prosperous economic system. The American Heritage Foundation also praised Hong Kong as one of the top financial and commercial centers in the world. The legal and regulatory framework of the financial sector is both transparent and efficient. The supervision of commercial business is also simple and direct. Besides, Hong Kong continues to rank second in Asia in attracting foreign direct investment.

The report evaluates the economic freedom of 179 economies from ten factors. These ten factors include commercial freedom, trade freedom, financial freedom, government expenditure, monetary freedom, investment freedom, financial freedom, property rights protection, integrity and labor freedom. A spokesman for the Hong Kong Government welcomed the Heritage Foundation's selection of Hong Kong as the freest economy in the world for the sixth consecutive year. The spokesman said that the Hong Kong Government would continue to strive to make Hong Kong the freest economy in the world. This is also the main cornerstone of Hong Kong's sustained economic stability, growth and prosperity. As for the economic system of Greater China, Chinese mainland ranks140th among 179 economic systems, Macau ranks 20th and Taiwan Province Province ranks 20th.