HK improving business environment

Hong Kong will continue to build up its business-friendly environment to enhance investors' confidence in the market, Secretary for Financial Services and Treasury of Hong Kong, said Wednesday.

Speaking at the opening ceremony of a three-day Corporate Registers Forum in Hong Kong, Frederick Ma assured his audience that Hong Kong will try its best to protect a fair, advanced, efficient and transparent business environment for investors.

He explained that Hong Kong's success is "built on a number of very important and fundamental strengths", including "the rule of law supported by an independent judiciary, a clean and efficient government, a low and simple tax regime, a level-playing field for all businesses free from government interference and highly developed and modern telecommunications and transport infrastructures".

Being one of the most open economies, Hong Kong has consistently been ranked the most competitive economy by different economic organizations and more recently it was ranked the most competitive city in China by the Chinese Academy of Social Sciences.

However, with the rapid economic development in the Pearl River Delta, Shanghai and other areas along the south east coast, Hong Kong's position as the most competitive economy is being challenged.

Source: Xinhua