Hong Kong Remains World's Freest Economy

Cato Institute Releases 13th Report on Global Economic Freedom

WASHINGTON, Sept. 15 /PRNewswire-USNewswire/ -- Hong Kong remains the world's
freest economy according to the findings of the Economic Freedom of the World:
2009 Annual Report released today by the Cato Institute. This marks the 13th
consecutive year Hong Kong has topped the ranking.

The Economic Freedom of the World report measures the degree to which the
policies and institutions of economies are supportive of economic freedom.
The annual report is published in conjunction with the Economic Freedom
Network, a group of independent research and educational institutes in over 70
nations.

Hong Kong Commissioner to the United States, Donald Tong, welcomed the
findings of the report, saying: "I am happy to learn that the Cato Institute,
Canada's Fraser Institute, and other prominent institutes of the Economic
Freedom Network have once again acknowledged Hong Kong's commitment to
free-market principles and the rule of law.

"We do not take such accolades lightly. Despite the current global economic
crisis, our commitment to our core values has not wavered. We will continue
to solidify Hong Kong's position as an international financial, business and
logistics center."

The Economic Freedom of the World report uses 42 different measures to create
an index ranking economies around the world based on policies that encourage
economic freedom.

Economic freedom is measured in five different areas: (1) size of government;
(2) legal structure and security of property rights; (3) access to sound
money; (4) freedom to trade internationally; and (5) regulation of credit,
labor and business.

The 2009 report ranks 141 nations using data from 2007, the most recent year
for which comprehensive data was available.

This year, Hong Kong's rating for economic freedom is 8.97 out of 10, followed
by Singapore with a rating of 8.66. The United States is the sixth-freest
economy in the world with a rating of 8.06.

The first Economic Freedom of the World Report, published in 1996, was the
result of a decade of research by a team which included several Nobel
Laureates and over 60 other leading scholars in a broad range of fields, from
economics to political science, and from law to philosophy.

For more information on the Economic Freedom Network, data sets, and previous
Economic Freedom of the World reports, please visit
http://www.freetheworld.com/index.html

Cato Institute: http://www.cato.org/pubs/efw/
For more information, contact:
Daniel D. McAtee
Senior Information Officer
Hong Kong Economic and Trade Office
Washington, D.C.
202 238 6360

SOURCE Hong Kong Economic and Trade Office

Daniel D. McAtee, Senior Information Officer, Hong Kong Economic and Trade
Office, +1-202 238 6360