People in Hong Kong are celebrating the occasion with a series of activities. More now from CGTN's Zhu Dan.

A high-tech and innovations exhibition in Hong Kong's Victoria Park. One of many signs the city wants to promote the world's latest technology. Artificial intelligence robots and 5G devices are among the carnival's biggest draws. Hong Kong has invested about $12.8 billion US dollars in innovation and technology, according to the government.

ZHU DAN HONG KONG "22 years on, with the dual advantages given under 'one country, two systems', Hong Kong has made great contributions to the nation's development, while China's prosperity has also brought benefits to the SAR. Hong Kong has been ranked the world's freest economy by an American think tank for the 25 consecutive years."

The rankings are compiled based on 12 factors covering law, governance, market openness and different regulations. Hong Kong scored 90.2 out of 100. Second place went to Singapore. Hong Kong's overall score is unchanged from 2018, earning higher marks for trade freedom, monetary freedom, and government integrity, according to the report by the Washington DC-based Heritage Foundation.

KENNETH FOK, FORMER PRESIDENT HK UNITED YOUTH ASSOCIATION "I think Hong Kong has always taken a leading role in this aspect. Hong Kong is a gateway to the mainland, you must have a free and open attitude. From welcoming businessmen, to welcoming funding, to welcoming friends, we must have an open attitude."

Hong Kong has benefited from its sound legal environment, a sound tax system, a free trade economy and a stable monetary system. It also enjoys strong support from the Central government under the One Country Two Systems.

PETER WONG, DEPUTY CHAIRMAN AND CHIEF EXECUTIVE HSBC LIMITED "In the 'Twelfth Five-Year Plan' and the 'Thirteenth Five-Year Plan', we explained how to integrate Guangdong Province and Hong Kong, and use the advantages of both. Therefore, we are now looking at the direction of the Greater Bay Area by taking advantage of what both sides offer to create a win-win situation."

Hong Kong's excellent business environment and convenient transportation infrastructure have laid the foundation for it to retain its distinction as the world's freest economy. Hong Kong's overall infrastructure competitiveness ranked second worldwide in 2018, and international airport cargo volume has been ranked sixth for six consecutive years. So, as the freest economy in the world, Hong Kong stands to remain a gateway to the mainland for years to come. Zhu Dan, CGTN, HK.