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HK Remains World's Freest Economy
Hong Kong remains the world's freest economy, a spokesman for the Hong Kong Special Administrative Region (HKSAR) government quoted the latest findings of the economic freedom of the world as saying Friday.
The findings were published by the Cato Institute of the United States in conjunction with the Fraser Institute of Canada.
The HKSAR also scores first both for the Trade Openness Index and Comprehensive Index which are two new features added to this year's report on the findings.
The Trade Openness Index is created to investigate the link between freedom to trade and wealth, while the Comprehensive Index integrates some new factors into the analysis in seven major areas including size of government, security of property rights and access to sound money.
Welcoming the news, Hong Kong Acting Financial Secretary Stephen Ip said Friday that Hong Kong "will continue the efforts in strengthening the position as an international financial and business center."
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