According to a survey conducted by the Hong Kong Trade and Development Council (TDC), the results of which were published last week, the vast majority of Chinese mainland private enterprises looking to break into foreign markets believe that the SAR represents a better leaping-off point than rival cities on the mainland, or elsewhere.
The TDC surveyed around 1,000 mainland private enterprises between February and April of this year, and found that nearly 75% felt that the SAR was the most advantageous location from which to branch out into foreign markets.
Speaking following the release of the survey results, TDC Chief Economist, Edward Leung revealed that for many private mainland companies, the SAR's long-established legal system is the draw:
'According to the survey, Hong Kong's fair and transparent legal system wins the highest acclaim and recognition of private enterprises in the mainland; over 82% of the respondents said that due legal protection is afforded to commercial activities carried out in the SAR,' Mr Leung observed.
The survey also revealed that 88.3% of those polled felt that Hong Kong represented a better opportunity to make foreign and domestic business contacts, 87% praised it for ready access to market intelligence, and 75% told the TDC that the strong presence of agents for foreign products was what sets the jurisdiction above its regional rivals.
Hong Kong's role as a respected financial centre is also a draw for private enterprises seeking foreign investment, according to the poll.
Despite these favourable observations it was revealed that, of those mainland private enterprises questioned, only 14.4% had offices in Hong Kong, and just 19.6% indicated that they were likely to establish headquarters there in the near future.
However, 54.7% of respondents said that this was for no other reason than that their business has not reached the stage at which overseas expansion is possible, and said that Hong Kong would be the likely location of choice when this becomes an option.
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