HK retains freest economy title

Hong Kong held on to its position as the world's freest economy for the 11th year running, according to the Heritage Foundation's annual ranking. Ranked top of the 2005 Index of Economic Freedom, the Special Administrative Region's virtues, according to the foundation, include its duty-free port with no barriers to trade, low level of government intervention in the economy, very low level of inflation, very low barriers to capital flows and foreign investment, very low level of restrictions in banking and finance, low level of intervention in wages and prices, strong property rights, very low level of regulation and a low level of informal market activity. Singapore and Luxembourg were ranked No. 2 and 3 by the foundation.