Hong Kong is one of the world's leading financial centres. Its highly capitalist economy has been ranked the freest in the world by the Index of Economic Freedom for 15 consecutive years. It is an important centre for international finance and trade, with one of the greatest concentration of corporate headquarters in the Asia-Pacific region, and is known as one of the Four Asian Tigers for its high growth rates and rapid industrialisation between the 1960s and 1990s. The Hong Kong Stock Exchange is the sixth largest in the world, with a market capitalisation of US$2.97 trillion as of October 2007, and the second highest value of initial public offerings, after London. The currency used in Hong Kong is the Hong Kong dollar, which has been pegged to the U.S. dollar since 1983. The Government of Hong Kong plays a passive role in the financial industry, mostly leaving the direction of the economy to market forces and the private sector. Under the official policy of positive...

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