Jan 15, 2014

    HK remains world's freest economy


    HONG Kong yesterday retained the title of the world's freest economy for the 20th year in a row, with rival Singapore closing the gap between the two cities.

    The rating shows how the southern Chinese financial hub remains one of the world's friendliest places to do business, but there were concerns that populist government policies and the perceived level of corruption could tarnish that reputation.

    The Index of Economic Freedom for 2014, published annually by the Heritage Foundation and the Wall Street Journal, showed that Hong Kong, Singapore, Australia and Switzerland were judged the freest economies in the world.

    Hong Kong recorded its second-highest economic-freedom score of 90.1 out of 100, and has topped the table every year since the index was launched in 1995.

    Singapore scored 89.4.