HK business environment gets high marks from most U.S. firms

2021-05-14 09:40:04China Daily Editor : Wang Yifan ECNS App Download

China 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.

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 Hong Kong, and around 77 percent cited a good quality of life in the city.

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 Chinese mainland.

If the scope of the survey is expanded, the proportion of those willing to do businesses in Hong Kong 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 Hong Kong, of which 1,500 had their regional headquarters there, said Paul Chan Mo-po, financial secretary of the Hong Kong SAR government, on Wednesday.

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

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