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Hong Kong Welcomes Growth In Foreign-Owned Firms

by Mary Swire,, Hong Kong

27 October 2015

As at June 1, 2015, the number of business operations in Hong Kong with parent companies overseas and in Mainland China had reached an all-time high of 7,904, up 4.2 percent on last year.

In terms of source country or territory, the annual survey by Invest Hong Kong and the Census & Statistics Department showed that the United States topped the list with 1,368 companies in Hong Kong, followed by Japan (1,358), The Mainland (1,091), the UK (631), and Taiwan (413). The Mainland registered the strongest growth in company registrations, of 14 percent over the year.

By sector, import/export trade, wholesale, and retail topped the list (3,482 companies, or 44.1 percent of the total), followed by finance and banking (1,438 companies, 18.2 percent). More than 1,400 of the operations were regional headquarters and almost 2,400 were regional offices. The 7,904 businesses employed a record of 422,000 people - up 4.3 percent on last year.

"The significant increase in the number of Mainland enterprises reaffirms Hong Kong's unique role as the major springboard for Mainland companies to go global," Hong Kong's Director-General of Investment Promotion, Simon Galpin, said. "The growth in the last five years in the numbers of financing and banking companies (plus 36 percent) demonstrates Hong Kong's position as an international financial hub in the world."

He added that, as the Mainland continues to open up its economy and financial markets, Hong Kong will continue to generate many new business opportunities in different economic segments for its foreign investors.

TAGS: investment | business | commerce | banking | financial services | China | corporate headquarters | multinationals | Hong Kong | retail | trade | services | business investment

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