Open Business Environment
Hong Kong has always maintained an open business environment for business activities and commerce.
One Country, Two Systems
Hong Kong has maintained its own currency, political and legal systems. This has allowed the city to continue to flourish as an international business city whilst enjoying the benefits of unrivalled access to opportunities in Mainland China.
Some of the benefits of One Country, Two Systems include:
- No foreign ownership restrictions
- English and Chinese as official languages with English the preferred language for business and contracts
- Free movement of capital, talent, goods and information
- Independent participation in international forums
World’s Most Competitive Economy
Hong Kong has been recognised as one of the world’s most competitive economy. The International Institute for Management Development (IMD) World Competitive Yearbook 2020 ranked Hong Kong 5th out of 63 economies.
The ranking reflects the consistent strides Hong Kong has made in building a favourable business environment. IMD assessed the economy across four competitiveness factors; economic performance, government efficiency, business efficiency and infrastructure. Among various sub-factors, Hong Kong is ranked top globally in “Business legislation”. Within the “Institutional framework” sub-factor, Hong Kong ranked 1st in the indicators “Legal and regulatory framework” and “Exchange rate stability”. These top of the world rankings re-affirm Hong Kong’s institutional strengths, particularly in legal and money affairs.
Strong Intellectual Property Protection
The Government of Hong Kong SAR has specific policies and legal protection in place for intellectual property rights. The city’s intellectual property laws have been developed to reach the highest international standards to create a free and fair business environment.
