<Tr> <Th> Foreign reserves </Th> <Td> US $413.5 billion (mid-2017) </Td> </Tr> <Tr> <Td_colspan="2"> Main data source: CIA World Fact Book All values, unless otherwise stated, are in US dollars . </Td> </Tr> <P> As one of the world's leading international financial centres, Hong Kong's service - oriented economy is characterized by its low taxation, almost free port trade and well established international financial market . Its currency, called the Hong Kong dollar, is legally issued by three major international commercial banks, and pegged to the US dollar . Interest rates are determined by the individual banks in Hong Kong to ensure it is fully market - driven . There is no officially recognised central banking system, although Hong Kong Monetary Authority functions as a financial regulatory authority . When destabilising factors are hitting the financial market of Hong Kong, they will be monitored and inspected by the Hong Kong Monetary Authority, the financial regulatory agency in Hong Kong . Electronic finance trading is evolutionarily impacting the financial market of Hong Kong . </P> <P> According to Index of Economic Freedom, Hong Kong has had the highest degree of economic freedom in the world since the inception of the Index in 1995 . Its economy is governed under positive non-interventionism, and is highly dependent on international trade and finance . In 2009, Hong Kong's real economic growth fell by 2.8% as a result of the global financial turmoil . The 2017 version of the Economic Freedom of the World Index lists Hong Kong as the number one nation, with a score of 8.97 . </P>

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