The US-based Heritage Foundation and the Wall Street Journal lately released the Economic Freedom Index of 155 countries and regions. The figure for China is 3.46, rising from the 128th place in 2004 to the 112th this year.

This is the 11th time that the Economic Freedom Index is released, which started in 1995. The index, which covers all sides of macro-economy, serves an important indicator suggesting a nation's economic environment and the level of being market-oriented. Arranged from 1 to 5, the lower the number is, the higher economic freedom it indicates.

Hong Kong (China) has been selected the world's freest economy for 11 consecutive years, followed by Singapore (2nd place) and Taiwan (China) (27th place). Altogether 27 Asia-Pacific countries and regions joined the ranking in 2005, among which China took the 17th. The DPRK and Myanmar counted respectively the world first and second from the bottom.

By People's Daily Online