ByteDance to set up new office in HK's Central business district

(ECNS) -- ByteDance, the owner of the popular short-video platform TikTok, is taking over the office area in the Central business district of Hong Kong Special Administrative Region (HKSAR), the company confirmed the news on Tuesday.

The office space which covers an area of about 1,480 square meters used to belong to Switzerland-based bank Julius Baer, which is moving to a less central location, said Financial Times.

Some companies from the Chinese mainland have been moving into premium office areas in Hong Kong’s Central business district. Data from Cushman and Wakefield shows that in the first quarter this year, companies from the Chinese mainland accounted for about 29 percent of new lease orders in Central of Hong Kong, and the figures in 2022 and 2021 were 21 and 23 percent respectively.