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Hong Kong has lost its top position for the first time in the ranking of the world’s freest economies.

CanadaThe Fraser Institute recently released its ranking of the world’s freest economies in 2023.hong kongLost top position for the first time.

According to the “2023 Annual Report on Economic Freedom in the World” released by the Fraser Institute,SingaporeFirst place, Hong Kong second place. Hong Kong has lost its top position in the rankings for the first time since 1975.

In this ranking, Fraser rates each country or region based on 5 indicators, including “size of government”, “legal system and property rights”, “currency soundness”, “freedom of international trade” and “regulation”. Are included; With a score of 10 out of 10 full points, Singapore scored 8.56 points and Hong Kong scored 8.55 points.

Hong Kong lost the top spot as the freest economy this year, mainly because it lost more points in “legal system and property rights” and fell slightly behind Singapore in “regulation”.

As for the negative factors affecting the decrease in Hong Kong’s score, Fraser noted in the report that Hong Kong’s judicial independence has been damaged and “military interference in the rule of law has intensified.” Following the enactment of Hong Kong’s national security law in 2020, Fraser has mentioned the issue of harming Hong Kong’s judicial independence in subsequent reports.

In response to Hong Kong losing its top position as the freest economy, a Hong Kong government spokesperson pointed out that Hong Kong remains one of the best in the world, ranking second in the world, and stressed that the government will continue to work towards it. committed to. Improve market efficiency and supporting facilities, and appropriately regulate enterprises to give full benefit to the free market and maintain an efficient, free, open and fair business environment.

However, the spokesperson said that the Fraser Report’s argument of so-called “military interference in Hong Kong’s rule of law” is completely fabricated and contrary to the facts.

The spokesperson said Hong Kong enjoys a high degree of autonomy under “one country, two systems” and the rule of law is not subject to military interference.

China(TagstoTranslate)Hong Kong(T)Singapore(T)Canada

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