(Xinhua) 10:27, October 05, 2024

HONG KONG, Oct. 4 (Xinhua) -- Hong Kong has been winning global acclaim for its ever-improving business and investment climate underpinned by its status as a global financial hub and relentless efforts to nurture industries and firms.

A pilot Business Ready 2024 Report published by the World Bank Group has named Hong Kong one of the best-performing economies in business environment out of the 50 economies it surveyed worldwide, according to a spokesperson for the Hong Kong Special Administrative Region (HKSAR) government.

The report gauges business and investment climate from 10 topics with three pillars under each topic. Hong Kong ranks fifth in the pillar of "Operational Efficiency" with a score of 78.52 points out of 100 points. Among the 10 topics, Hong Kong scored 90.77 points for "International Trade," 85.49 points for "Business Entry," and 77.71 points for "Utility Services."

The report also highlighted that Hong Kong has few restrictions on international trade in services and implements good practices in terms of information provision and regulations relating to company registration, the spokesperson said.