Reuters: ‘Hong Kong dropped from Economic Freedom Index as policies controlled from Beijing'

On 4 March, the Red Capital Report published by Hong Kong Watch was mentioned in an article in Reuters.

The article says that Hong Kong has been removed from the Heritage Foundation’s Index of Economic Freedom for the first time in the past 25 years since 2019 because its economic policies are controlled from Beijing. The Heritage Foundation is a Washington-based think tank.

The article mentioned the Red Capital Report published by Hong Kong Watch in early March – “money originating from mainland China - had fundamentally shaped Hong Kong’s politics, media and the city’s status as a business hub.”

Our comments: “In 2019, 82% of IPOs in Hong Kong were by mainland companies, while in October 2020, mainland equities comprised 57.3% of the Hang Seng Index by weighting, the group said.”

Full article: https://www.reuters.com/article/us-hongkong-economy-idUSKBN2AW0OI

(Photo: REUTERS/Amr Abdallah Dalsh)