For Immediate Release
Hong Kong maintained its position as the world’s freest economy for the 18th consecutive year, according to the 2012 Index of Economic Freedom, published today by the Heritage Foundation and The Wall Street Journal. HKGCC welcomes the result and believes it is conducive to Hong Kong’s competitiveness and positioning as an international business hub.
Chamber CEO Shirley Yuen said maintaining a pro business environment is of utmost importance to Hong Kong’s long term economic growth and public interests. However, she worried the rising operating costs like rental charges and wages would weaken Hong Kong’s competitiveness.
Regarding the Index editors’ concern that recent implementation of a minimum wage had moved Hong Kong modestly in the direction of a more bureaucratic and politicized economy, Yuen warned we have to be cautious about its impact on businesses especially as we are moving into a time of global economic uncertainties.
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