Hong Kong’s business environment remains vibrant as business operations from overseas and the mainland hit an all-time high this year, says a senior government official.
Secretary for commerce and economic development of the Hong Kong Special Administrative Region (HKSAR) government, Edward Yau made the statement during a meeting held by the European Union (EU) Office to Hong Kong and Macao.
Yau added that Hong Kong is the ideal location for businesses to establish or expand their operations despite the impact of the coronavirus crisis.
The European Union is one of Hong Kong’s largest trading partners in goods and services, and has had close trade ties with Hong Kong over the years, according to Yau.
The government official went on to say that Hong Kong will continue to help local and international organisations to make the most of the massive opportunities stemming from mainland development, along with its regional and global market integration.
As per the findings of a survey unveiled at the beginning of the month by the HKSAR government, the number of Hong Kong’s business operations with overseas parent companies and in China’s mainland has risen by 10% from 8,225 in 2017 to 9,049 this year.
According to a separate poll, Hong Kong’s 2021 Annual Startup Survey revealed that the number of Hong Kong start-ups has risen by 68.5% to 3,755 during the same period.
Last month, chairman of the British Chamber of Commerce in Hong Kong, Peter Burnett said Hong Kong is a great place to do international business as it plays as a connector between the mainland and the world. "It (Hong Kong's unique role) is enhanced and preserved by 'one country, two systems,'" he said.
"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 added.
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