29 Sep 2021
Hong Kong’s business environment remains one of the world’s best, according to the findings of a new report out this week.
The "Report on Hong Kong's Business Environment: A Place with Unique Advantages and Unlimited Opportunities" was published by China's Hong Kong Special Administrative Region (HKSAR) government, reiterating its sound business environment and advantages under "one country, two systems.”
According to E Zhihuan, chief economist of the Bank of China (Hong Kong): "Stability and order have been restored since the implementation of the national security law in Hong Kong, which provides guarantees for both capital and personal safety of investors, eliminating the biggest uncertainty in business operations.”
In the 12 months to June this year, IPO funds rose by more than 50% year-on-year, whilst stock turnover increased by close to 70%. Asset and wealth management business rose by around 20%. In addition, Hong Kong’s international bond issuance ranked top in Asia, according to the report.
"Hong Kong still has the best foundations for business," said Wilhelm Brauner, chairman of the Austrian Chamber of Commerce Hong Kong & Macao.
This was echoed by chairman of the British Chamber of Commerce in Hong Kong, Peter Burnett who said it is great for international business: "It (Hong Kong's unique role) is enhanced and preserved by 'one country, two systems,'" he said.
Burnett added that British Chamber of Commerce members have been committed to Hong Kong for a long time, featuring a wide scope of businesses from financial services to aviation.
"In Hong Kong, people come and go. But they come and go in the natural course of business activity. I can't see any of our members really pulling out or relocating. They are still very strongly committed to Hong Kong," Burnett said.