Hong Kong's business environment ranks second in the world

Hong Kong, with its favorable conditions, such as low taxes, investor protection and freedom of trade currency, was selected as the second best business environment in the world, up seven places compared with 2009, according to rankings recently released by Forbes financial magazine."

Hong Kong is now second only to Denmark, which has ranked first for three consecutive years.

The United States, which was ranked second in 2009, fell to ninth because of its high corporate taxes and low degree of trade freedom.

Hong Kong is one of the fastest-improving regions among the listed 128 countries and regions, according to reports of Hong Kong media. Forbes pointed out that because Hong Kong benefits from tourism, trade, and financial cooperation with the Chinese mainland, its recovery speed has been much faster than other regions.

In addition, Hong Kong is also an important platform that allows Chinese enterprises to absorb foreign capital.

Forbes decided on the rankings in accordance with the tax system, investor protection, the degree of trade and monetary freedom in addition to other standards. Denmark received good scores on intellectual property, technology, probity and other aspects.

Singapore, which ranked fourth in 2009, fell slightly to fifth in 2010 and was replaced by Canada, which took the fourth position. New Zealand rose from the fifth to third.

By People's Daily Online