Press Releases in Hong Kong

HK business environment gets high marks from most US firms

This undated file photo shows a panoramic view of the financial area in Hong Kong. (PHOTO / XINHUA)

Chinese mainland said on Thursday that implementation of the National Security Law for Hong Kong has ensured a stable financial market and a better investment environment in the region, and businesses from all countries are welcome to operate in the special administrative region to achieve greater success.

Foreign Ministry spokeswoman Hua Chunying made the remark after a survey by the American Chamber of Commerce in Hong Kong found that 42 percent of interviewed enterprises were considering leaving or planning to leave the Hong Kong SAR.

According to the survey by the American Chamber of Commerce in Hong Kong, about 58 percent of interviewed enterprises said they were not planning to leave the Hong Kong Special Administrative Region (HKSAR), and around 77 percent cited a good quality of life in the city

However, that number does not reflect the full picture, Hua told a daily news conference. According to the survey, about 58 percent of respondents said they were not planning to leave the Hong Kong Special Administrative Region (HKSAR), and around 77 percent cited a good quality of life in the city.

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The chamber collected 325 anonymous responses between May 5 and May 9. The number of enterprises interviewed was slightly less than one-fourth of the chamber's members.

Around 55 percent said the business environment is excellent, and 48 percent of companies believed it is an advantage to be close to the market of the mainland.

If the scope of the survey is expanded, the proportion of those willing to do businesses in the HKSAR might increase, Hua said.

According to an annual American Business in China White Paper released on Tuesday by the American Chamber of Commerce in China, two-thirds of its member enterprises intend to increase investment in China in 2021.

In 2020, there were more than 9,000 overseas and mainland companies operating in the HKSAR, of which 1,500 had their regional headquarters there, said Paul Chan Mo-po, financial secretary of the HKSAR government, on Wednesday.

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Most of these companies, especially those that want to develop on the mainland, still regard the HKSAR as a good place to invest, Chan said.