Total number of foreign parent companies with offices in HK reaches new high: Alpha Lau
A survey shows the total number of foreign parent companies with offices in Hong Kong has increased by nearly 10% year-on-year to 9,960, setting a new record, the Director-General of Investment Promotion, Alpha Lau, said today (Dec. 18).
This, according to her, reflects a strong recovery of Hong Kong's business environment post-pandemic.
"These offices employ nearly 500,000 people in Hong Kong, marking a 5% year-on-year increase... By region, companies from the mainland make up the largest share, rising by nearly 20% year-on-year, while Japan and the UK both saw increases of over 10%, and the US rose by 9%."
In a radio program, Lau noted that the statistics also reveal a 10% year-on-year increase in startups, reaching nearly 4,700. Even during the pandemic, Hong Kong's startups experienced healthy growth, with nearly 18,000 employees last year. The majority of these startups are in fintech and innovation and technology, with some growth in green energy as well.
As of November this year, Invest Hong Kong has assisted over 500 companies in establishing or expanding their operations in the city, representing a significant year-on-year increase of over 40%. These companies primarily come from finance, innovation and technology, and family offices, and are expected to bring over HK$60 billion in investment in their first year, creating more than 6,000 job opportunities, said Lau.
Lau expressed a more optimistic outlook than previously expected, noting that the earlier conservative estimates were due to macro factors such as conflicts and geopolitical issues in Europe and the US. However, the survey reflects a pragmatic attitude among businesses, highlighting the need for growth and the attractive conditions in Hong Kong for development.
She also pointed out that regional headquarters have recorded a 6% increase, reversing a decline seen in recent years. This is attributed to the current economic environment, where some large enterprises may not require a regional headquarters structure to operate, which is encouraging for the overall figures.
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