HK Economy Still On Top, But Freedom Curbs Rankle

The US-based Heritage Foundation has picked Hong Kong as the world’s freest economy for the 25th straight year, but the report, for a second year in a row, sounded concern about the city's status – this time about the eroding freedoms.

Hong Kong retained the same overall score – 90.2 out of 100 – that the foundation gave the SAR last year and the report hailed the freedom to conduct business, tax regulations and government integrity.

But the score for "judicial effectiveness" slipped sharply from 84 in the last report to 75.3 (out of 100) this year, with the report citing concerns over increased interference by the mainland, and curbs on freedoms.

"This [One Country, Two Systems] policy has been strained by PRC political interference in recent years, and the Hong Kong government’s decision in 2018 to ban a pro-independence party led to protests and raised concerns about future prospects for freedom of speech and association in the SAR," it said.

"Despite the political unrest, Hong Kong’s open and market-driven economy continues to flourish, increasingly integrated with the mainland through trade, tourism, and financial links," the report said.

In its report last year, the foundation had raised concern about Hong Kong's judicial independence, pointing out that Beijing reserves the right to make final constitutional interpretations, effectively limiting the power of Hong Kong’s top court.