Hong Kong ranks freest economy for 19th year

Hong Kong has ranked as the freest economy in the world for a 19th straight year.

According to the 2013 Index of Economic Freedom released on Thursday by the US Heritage Foundation and the Wall Street Journal, Hong Kong scored 89.3 on a scale from 0 to 100. That's well above the global average of 59.6.

Among the 10 economic freedom factors assessed, Hong Kong maintains its top position in trade and financial freedom, stays second in investment freedom and property rights, and rises from third to second in business freedom.

The report notes Hong Kong's highly competitive regulatory regime, which, coupled with an efficient and transparent legal framework, sustains vibrant engagement in global trade and investment.