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Hong Kong is no longer awarded the American Heritage Foundation Economic Freedom Rating Scholar: Limited impact

2021-03-04T05:43:22.120Z


In the latest index of economic freedom, the American Heritage Foundation did not give Hong Kong an independent score. Instead, it scored Hong Kong and Macau together with China. In the latest ranking, China ranked 107th. Before that, Xiang


Financial News

Written by: Zhang Weilun and Di Ziqian

2021-03-04 13:32

The last update date: 2021-03-04 13:32

In the latest index of economic freedom, the American Heritage Foundation did not give Hong Kong an independent score. Instead, it scored Hong Kong and Macau together with China.

In the latest ranking, China ranked 107th.

Prior to this, Hong Kong has always been at the forefront of the index of freedom, and it has been ranked first for 22 consecutive years.

This time Hong Kong is absent from the rating list, which naturally attracts attention from the outside world.

However, scholars believe that Hong Kong is still a place with a high degree of economic freedom. This incident will not affect the outside world on the business environment and economic freedom of Hong Kong. On the contrary, Hong Kong should make efforts to promote the freedom of non-interference with others.

Lei Dingming believes that Hong Kong is no longer independently rated by the foundation, which seems to be a political consideration, so it is of little significance to make a comment.

(Photo by Yu Junliang)

Lei Dingming, former head of the Department of Economics at the University of Science and Technology, pointed out that the foundation has been known for its extreme right stance and follows the guidelines of former President Trump.

Given the development of Sino-U.S. relations and the international situation in recent years, this time the foundation no longer evaluates Hong Kong. This seems to be a political consideration, so it is of little significance to make comments.

He further pointed out that the specific degree of economic freedom is still quite high. If the foundation does not give a high score, it is impossible to say, or it will not give a score.

Lei Dingming bluntly stated that Hong Kong has a high degree of economic freedom and does not think that it has been weakened; on the contrary, it is necessary to draw some red lines to let the outside world know that its actions cannot cross the boundary or harm others. Hong Kong society should strive not to harm the freedom of others. Social advancement.

Kakin Tsui believes that Hong Kong's removal from the index this time "is not a big deal."

(Photo by Luo Guohui)

Xu Jiajian: Limited impact on the capital market

Associate Professor Xu Jiajian of the Department of Economics of Crimson University in the United States said that Hong Kong’s removal from the index "is not a big deal." The academic community has never paid much attention to this type of index because the research methods of these indexes are not very scientific, but Most of the tax rates are covered, but some regulatory and monopoly issues have not been reflected.

Regarding the removal of Hong Kong this time, Xu Jiajian proposed some possibilities. One is that under the distortion of "one country, two systems", it is no longer interesting to include Hong Kong in the scope of the study. Hong Kong is already part of China, just as the index does not need to establish a ranking for Shanghai and Beijing.

The second is the possibility of relative "conspiracy theory". In recent years, the index reflected that Hong Kong's economy has become increasingly unfree, and the ranking continues to decline, resulting in more related negative news, which has been "affected" and eliminated Hong Kong.

He believes that even if Hong Kong is excluded from the index, it will have very limited impact on the capital market. "The money is so eye-catching. Don't rely on the indicators to teach them how to do it." The capital itself has the ability to analyze investment.

Hong Kong was removed from the Heritage Foundation's "Economic Freedom" rating due to Beijing's increasing influence

The Heritage Foundation says the National Security Act will "end Hong Kong's status as a global financial and trading center"

Hong Kong Economy Lei Dingming

Source: hk1

All news articles on 2021-03-04

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