Economic index exclusion dismaying
Mar 4, 2021 - The Hong Kong SAR Government today expressed deep disappointment and serious dismay at the Heritage Foundation's decision to exclude Hong Kong from its 2021 Index of Economic Freedom. In a statement, it said the foundation’s decision is neither warranted nor justified, adding it does not do justice to the Hong Kong which topped the chart as the world's freest economy for 25 years out of the Index's 27-year history. "We take strong exception to the foundation's claim that Hong Kong's economic policies are ultimately controlled from Beijing. This is ill-conceived and simply not true," the statement said, pointing out that Hong Kong enjoys a high degree of autonomy over its economic and trade policies as enshrined in our Basic Law," the statement said. "Hong Kong is and will always remain an open, safe, vibrant and pluralistic international financial and business hub, underpinned by economic freedom, the rule of law and judicial independence." The statement pointed out that the foundation's decision to suddenly exclude Hong Kong from this year's assessment was politically biased and a departure from its long-established practice for the index. Hong Kong always ranked high in the areas of fiscal health, business freedom, trade freedom and financial freedom, which are the parameters used by the foundation in compiling its index. The city’s strength in those areas has not changed. Details here. |