Since the implementation of the National Security Law of Hong Kong, social stability has been restored and the business environment has improved. On September 8, the Philippine Institute of Canada released the 2022 Annual Report on World Economic Freedom, and Hong Kong's economic freedom continues to rank first in the world. In this report, due to the impact of the epidemic of New Coronary Pneumonia, the scores of economic freedom around the world generally declined. However, even though it admitted that there was no scientific basis, the Philippine Institute still linked the decline of Hong Kong's score with the maintenance of national security in its report. The SAR Government had refuted the unfair remarks made by the Philippine Institute on the same day. The government spokesman pointed out that with the implementation of the National Security Law of Hong Kong, social stability was rapidly restored and the superior business environment was restored. A member of the Legislative Council pointed out that in 2019, Hong Kong's business environment was seriously damaged by the black storm. It was the implementation of the Hong Kong National Security Law that brought Hong Kong back on track Gong Xueming, a reporter from Ta Kung Pao, an adviser to BOC Hong Kong and a member of the Legislative Council, Chen Zhenying, said that the description of the FSI does not reflect the facts at all, nor does it equal the views of Hong Kong's business community and foreign-funded enterprises. He contacted with foreign financial institutions and learned that the implementation of the National Security Law had no impact on their business. Instead, they were worried about the prospects of Hong Kong because of the demonstrations and arson during the "Black Storm". Some foreign financial institutions said that many countries or regions in the world have laws to protect their national security and national interests, and Hong Kong should not be an exception. Li Weihong, a member of the financial services community, said that the Hong Kong National Security Law was aimed at such crimes as splitting the country, colluding with external forces to endanger national security and carrying out terrorist activities, which in fact guaranteed the security of Hong Kong residents and enterprises. After the implementation of the National Security Law, the life and business activities of citizens returned to normal. Tan Yueheng, member of the Legislative Council of the Election Committee sector, said that the total value of assets and wealth management business in Hong Kong at the end of 2021 had increased by more than 20% compared with the end of 2019. Hong Kong's total deposits in July 2022 increased by 8.5% compared with that before the implementation of the Hong Kong National Security Law in June 2020. These data are all powerful refutations of the report evaluation. Shen Hua, vice president of the Hong Kong China Foundation Association, said that the views of the Philippine Institute on the impact of the National Security Law on Hong Kong's economy were very one-sided. Take the asset management industry as an example. As of 2021, the total scale of asset management in Hong Kong is HK $13 trillion, of which non Hong Kong investors continue to be the main source of funds, accounting for 65% of all assets under management. Facts have proved that international investors continue to regard Hong Kong as the best, freest and most convenient international financial center and capital market to connect the world with the mainland of China. On the contrary, without the implementation of the National Security Law, Hong Kong would continue to be in turmoil in previous years. It is hard to imagine that Hong Kong could still maintain its current status. Wei Mingde, chairman of the Hong Kong Financial Development Association, believes that since the implementation of the Hong Kong National Security Law, Hong Kong's financial system and trade freedom have become more stable and open, and the central government has also continued to bring a series of Hong Kong friendly policies to Hong Kong. The dividend of the mainland's economic development and the global competitiveness of mainland enterprises have provided Hong Kong with broad development space and a steady stream of impetus for its economic development. Xiangjiang Wisdom Club