Hong Kong has been ranked as the world’s freest economy in the Fraser Institute’s Economic Freedom of the World: 2024 Annual Report, among 165 jurisdictions. The city climbed one spot from 2023, excelling in areas such as “Freedom to trade internationally” and “Regulation,” while its “Sound money” ranking improved to third globally. Hong Kong's free market system, supported by the "one country, two systems" framework, has fostered an open and efficient business environment. Over 9,000 overseas and mainland companies are based in Hong Kong, with the government continuing efforts to attract businesses and talent to the city. The report underscores Hong Kong’s continued strength as a global economic hub.