Hong Kong rises one spot to No 3 in World Bank rankings on ease of doing business but city’s commerce chief warns that protest-linked violence could take toll

New Zealand once again tops list in the international finance body’s ‘Doing Business’ report, followed by Singapore

Hong Kong ranks first in dealing with construction permits, second in paying taxes, third in getting electricity and fifth in starting a business

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Hong Kong has been rocked by increasingly violent protests since June. Photo: Felix Wong

Published: 7:12pm, 24 Oct 2019Updated: 7:44pm, 24 Oct 2019

Hong Kong rose one spot to No 3 in the World Bank’s annual rankings on the ease of doing business, but the city’s commerce minister warned that violence arising from the ongoing anti-government protests could harm its future placing.

New Zealand once again topped the list in the international finance body’s “Doing Business 2020” report released on Thursday, followed by Singapore. Denmark and South Korea made up the top five.

China jumped to 31st from 46th last year while Taiwan slipped two places to 15th.

The report, which covers 190 economies and was introduced in 2003, looks at the regulatory environment affecting firms, including starting a business, trading across borders and taxes.

Hong Kong ranked first in dealing with construction permits, second in paying taxes, third in getting electricity and fifth in starting a business – giving the city an overall score of 85.3 points out of 100.

Hong Kong scored its worst mark in registering property. Photo: Winson Wong

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