London Daily

Focus on the big picture.
Sunday, Jul 05, 2026

Hong Kong’s Reign as World’s Freest Economy at Risk, Group Warns

Hong Kong’s Reign as World’s Freest Economy at Risk, Group Warns

Hong Kong’s long reign as the world’s freest economy is at risk due to China’s efforts to quell dissent, the Fraser Institute said, undercutting government arguments that the crackdown was improving the business climate.

The Vancouver-based research institution warned in its 2020 Economic Freedom of the World report that the sweeping national security law enacted in June and other measures would hurt Hong Kong’s No. 1 ranking in future surveys.

The former British colony continued its 24-year run atop the latest report, which was based on data from 2018, ahead of Singapore and New Zealand.

“Hong Kong’s rating in this report is unaffected by the 2019 proposal to transfer certain legal cases to the mainland and the protest and sometimes brutal suppression that followed,” the right-leaning think tank said.

“However, it will be surprising if the apparent increase in the insecurity of property rights and the weakening of the rule of law caused by the interventions of the Chinese government in 2019 and 2020 do not result in lower scores.”

Hong Kong’s Chief Executive Carrie Lam has cited the city’s continued high rankings in the Fraser report and similar surveys to counter claims that efforts to crackdown on political unrest were jeopardizing its status as a global financial center.

The security law imposed by China gave the government vast new authority to prosecute subversion, secession, terrorism and collusion with foreign powers, including the ability to transfer cases to mainland courts.

The government dismissed the report’s assertions, saying it remained determined and committed to upholding the rule of law. “It is with regret that Fraser Institute preempts lower future scores in this area with biased comments and unfair speculations based on selective ungrounded views,” the government said in a statement Friday.



The decision to impose the security law without a public hearing or vote was arguably the most dramatic shock to Hong Kong’s political system since it was returned to Chinese rule in 1997. The government has already used the law to outlaw protest slogans and arrest more than 20 activists, including media tycoon Jimmy Lai.

The legislation has prompted the U.S. to roll back special trading privileges granted to Hong Kong while technology companies have accelerated efforts to move sensitive data out of the city. On Thursday, Hong Kong police arrested 15 people on suspicion of manipulating the stock price of Lai’s Next Digital Ltd. during a campaign to support the company after his arrest last month.

Hong Kong slipped to second place in the Heritage Foundation’s 2020 Index of Economic Freedom, due to last year’s political turmoil. The city also tumbled seven spots to 80th place in the Reporters Without Borders’ latest 2020 World Press Freedom Index.

Newsletter

Related Articles

0:00
0:00
Close
Morocco and France Advance as 2026 FIFA World Cup Enters Quarterfinals.
Historic 2026 Tour de France Opens in Barcelona With Revamped Team Time Trial.
Global Mergers and Acquisitions Approach $4 Trillion Defying Geopolitical Tumult.
Negotiators Advance 20-Point Framework for Gaza Ceasefire and Demilitarization.
OECD Warns Middle East Conflict Will Depress Global Economic Growth.
Ukrainian Drones Strike Major Oil Terminal in St. Petersburg.
World Meteorological Organization Issues Urgent Alert Over Rapidly Intensifying El Niño.
United States Commemorates 250th Anniversary With Diplomatic Summits and Global Flotilla.
Iran Begins Days-Long Funeral for Supreme Leader Khamenei Amid Strait of Hormuz Standoff.
Technology giant reports surging carbon emissions driven by artificial intelligence infrastructure demands.
Artificial intelligence adoption accelerates workforce reductions across the technology and financial sectors.
Global technology and financial conglomerates collaborate to launch a new stablecoin standard.
United States regulators lift export restrictions on a major frontier artificial intelligence model.
Royal Society Exhibition Highlights Growing Focus on Public Trust in Science
Energy Costs and Supply Chain Risks Continue to Shape UK Business Strategy
Rapid Rise in Artificial Intelligence Adoption Reshapes UK Corporate Operations, ONS Says
UK Businesses Turn Defensive as Economic Outlook Weakens, Institute of Directors Data Shows
UK Government Faces Criticism Over Late Extension of Pub Hours for England Match
Inquest Continues Into Death of Noah Donohoe as Jury Deliberates Findings
Calls for Stronger Wildlife Attraction Safety Rules After Crocodile Enclosure Injury
City Fire Under Control After Major Blaze Sends Smoke Across Urban Area
Police Investigation Continues After Officer Killed During Road Closure Duties
Blackpool Hotel Fined £120,000 After Electric Shock Incident Involving Child
Whistleblowers Allege Delays in UK Special Educational Needs Support Services
Calls Grow for Improved Support for UK Armed Forces Personnel Facing Health Conditions
Rising UK Energy Price Cap Increase Prompts Wider Concerns Over Household Pressures
UK Businesses Remain Concerned Over Global Conflict Risks to Supply Chains, ONS Finds
Office for National Statistics Reports Rising Adoption of Artificial Intelligence Across UK Businesses
Institute of Directors Reports Deepening Pessimism in UK Business Confidence Index
England Prepare for World Cup Round of 16 Match Against Mexico in Mexico City
Royal Society Summer Science Exhibition Concludes in London After Week-Long Showcase of Research
Silverstone Hosts British Grand Prix as Lando Norris and Lewis Hamilton Lead Home Crowd Expectations
Cornwall Van Dwellers Face Homelessness Risk as Council Tightens Enforcement
Police Investigate Stabbing of Iranian Journalist in London
Rare Copy of US Declaration of Independence Discovered in UK Archive
Department for Education Data Shows Persistent Literacy Gap Among Disadvantaged White Pupils
London Casino Faces Legal Action Over Alleged Tip Distribution Practices
England Records Hottest June on Record as Heatwave Disrupts Services Nationwide
UK Foreign Office Ends Overseas Education Programme for Women and Girls After Shortfall
UK Lawmakers Call for Urgent Action to Preserve Historic Outdoor Lidos
Police Criticise Extended Pub Opening Hours for England World Cup Fixture in Mexico
UK Safety Authorities Warn Parents Over AI-Generated Child Abuse Imagery Risks
Reform UK-Led Council Struggles to Attract Sponsors for Union Flag Promotion Scheme
OpenAI UK Investment Uncertainty Grows After Reported Setback on Stargate Data Centre Site
British Medical Association Warns of Severe Financial Crisis and Possible Staff Cuts
UK Devolution Debate Intensifies as Celtic Nations Prepare Breakup Contingency Plans
Starmer Signals Labour Transition as Burnham Emerges as Potential Successor
UK Government Consults International Partners on Maritime Trade Security and Energy Market Stability
Rare Revolutionary-Era Documents Discovered by UK Archives and Undergoing Authentication
UK Consumer Confidence Remains Deep in Negative Territory as Household Spending Stays Cautious
×