21:11, 05-Feb-2018
China Development: Hong Kong ranks as world's freest economy for 24 consecutive years
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An American conservative think-tank, the Heritage Foundation, ranks the Hong Kong Special Administrative Region at the top of its list of countries and regions based on economic freedom.
Hong Kong has sat at the top of the list for 24 consecutive years. Rounding out the top three are Singapore and New Zealand. The Chinese mainland ranks 110th out of 155 economies on the list. According to the report, Hong Kong had an overall rating of 90-point-2 -- slightly higher than last year. The global average is 61-point-1.
Heritage Foundation cites Hong Kong's economic resilience, high-quality legal framework, low-tolerance for corruption, government transparency, efficient regulations, and openness to global commerce. The Heritage Foundation says a higher level of economic freedom translates to a longer period of economic growth and prosperity.