HK DROPPED FROM ECONOMIC FREEDOM INDEX AS BEIJING’S INFLUENCE GROWS

HONG KONG: Hong Kong has been excluded from the Heritage Foundation’s Index of Economic Freedom because its economic policies are controlled from Beijing, the Washington-based think tank said, removing Hong Kong from a list it topped for 25 years up to 2019.

The title of the world’s freest economy for 2021 was retained by Singapore for the second year, the Heritage Foundation said.

In the 2021 index published on Thursday, the foundation said Hong Kong and Macau, both special administrative regions of China, were no longer included because even though citizens enjoy more economic freedom than the average resident of China, “developments in recent years have demonstrated unambiguously that those policies are ultimately controlled from Beijing”.

Developments in Hong Kong or Macau relevant to economic freedom would be considered in the context of China’s evaluation in the index. China slipped to 107 from 103, among the list of 178 countries.