Overall Score: 89.6 World Rank: 1
Hong Kong Quick Facts/ United States
7 Major Sources of Economic Progress
Limits on Government Regulation
Monetary stability is maintained through the exchange-rate peg to the U.S. dollar. The government provides some low-cost housing and green energy subsidies. The Financial Secretary is responsible for achieving the monetary policy. They have a stable external exchange value for their currency. One US$1 is equal to about HK$7.80.
Low Tax Rates
Hong Kong is known for its free port status and easy customs procedures. Tax is paid on very few products. "One major recent change has been to make the import of wine and beer duty free. This has encouraged a thriving wine import, export and storage business serving retail and individual buyers." Free trade in Hong Kong covers both the price of taxes and The burden tax compliance.