SOURCE / ECONOMY
Hong Kong remains a bonanza for businesses from US, other nations: FM
Published: May 13, 2021 07:13 PM
Hong Kong. Photo: VCG

Hong Kong. Photo: VCG



The recent survey by the American Chamber of Commerce in Hong Kong, which suggests that 42 percent of the US companies in the city is considering or plan to leave Hong Kong does not reflect the full picture, Chinese foreign ministry spokesperson Hua Chunying told a press conference on Thursday.

A recent survey by the American Chamber of Commerce in Hong Kong involving 325 companies, representing 24 percent of its members there, found that 42 percent were considering or planning to leave the city, with 62 percent of respondents chose "the national security law makes me uncomfortable" as the reason for leaving Hong Kong.

In response, Hua said on Thursday that the reporter's question did not reflect on the result of the whole picture. 

The American Chamber of Commerce in Hong Kong survey also showed that 58 percent of respondents do not intend to leave Hong Kong, 77 percent of the respondents believe in good quality of life in Hong Kong, 55 percent have confidence in its excellent business environment, noted Hua.

Given that less than a quarter of all Amcham members were surveyed, the positive factors in this regard may be further increased, if the scope of the survey was expanded, the spokesperson said.

The Secretary for Commerce and Economic Development of HK SAR government responded to the Amcham report, saying the number of international companies choosing to set up their regional headquarters in Hong Kong has exceeded 9,000. 

Most global companies, especially those looking to expand in the Chinese mainland, see Hong Kong as a good place to invest, Hua noted.

In the American Chamber of Commerce in China's just-released white paper on US businesses in China, more than two-thirds of US companies said that they plan to increase investment in China's mainland market.

As it can be seen, since Hong Kong's return to the motherland, it has given full play to the unique advantage of the "one country, two systems" of relying on the mainland to face the world, and its status as an international financial, shipping and trade center has been further consolidated, Hua said. 

The reality over the past year also show that the implementation of the National Security Law for Hong Kong has filled in a legal loophole there, helped restore social stability in Hong Kong and maintain a stable and orderly operation of the financial market, said Hua, noting that the construction of the Guangdong-Hong Kong-Macao Greater Bay Area will also add impetus to Hong Kong's economic development.

The IMF's World Economic Outlook released in April predicted that Hong Kong's economic growth rate would reach 4.3 percent this year, and nearly all internationally renowned financial institutions have significantly upgraded their economic growth forecasts for Hong Kong.

China's central government will, as always, fully support Hong Kong's development and integrate it into the overall development of the country, said Hua. Meanwhile, the Chinese government also welcomes business communities from all over the world to seize opportunities and continue to shine in Hong Kong. 

"We are confident that Hong Kong's future will be even better," said Hua.

Global Times


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