The World Bank announced the "2016 Doing Business Report" on the 28th, in which Hong Kong ranks fifth globally in terms of business ease.
The released Doing Business Report measures 189 economies worldwide from June 2014 to June 2015, recording 231 business reforms. This year's report adopts a new assessment method, expanding the range of indicators to include regulatory quality and good business practices, ranking the ease of doing business across ten areas including "starting a business," "registering property," "getting credit," "protecting minority investors," and "paying taxes."
"Protecting Minority Investors" Continues to Lead
In this ease of doing business report, Hong Kong continues to lead in the assessment indicator of "protecting minority investors," once again demonstrating Hong Kong's advantages in safeguarding minority investors. As the world's freest economy, Hong Kong has always been a popular choice for investment and business. Investing and starting a company in Hong Kong not only facilitates the expansion into international markets but also allows for overseas financing, bringing more business opportunities to enterprises.
"Paying Taxes" Ranks Fourth Globally
Compared to domestic and foreign tax systems, Hong Kong's tax system features low tax rates, simplicity, a territorial basis (taxation is limited to income earned or received in Hong Kong), and particularly, tax rates that vary with the annual budget. Additionally, it has a unique duty-free system. In the assessment indicator of "paying taxes," Hong Kong ranks fourth globally, showcasing its strong competitiveness and establishing itself as a WorldWay center.
Business-Friendly Environment Attracts Investment Immigration
Hong Kong, due to its advantageous geographical location, convenient transportation network, and good logistics infrastructure, facilitates the logistics distribution of enterprise products globally and radiates to surrounding countries. Hong Kong places great emphasis on the rule of law and maintaining fair market competition, with the government known for its efficiency and service quality, making it one of the cities recognized globally for its high level of anti-corruption governance. Hong Kong's implementation of low tax policies and a simple tax system provides various businesses with more autonomy and innovative space. With a good educational environment and an internationalized human resources market, it is easy for enterprises to access a large pool of experienced professionals and managers. All these advantages can attract more individuals to invest and do business in Hong Kong, as well as to immigrate and settle down.