Number of Overseas and Mainland Companies with HK Business Operations Continues to Grow

The number of business operations in Hong Kong with parent companies overseas and in Mainland China climbed to 7,986 in 2016, compared to 7,904 a year ago, according to a joint survey conducted by Invest Hong Kong (InvestHK) and the Census and Statistics Department (C&SD).

Results of the 2016 Annual Survey of Companies in Hong Kong Representing Parent Companies Located Outside Hong Kong show that the 7,986 respondent companies comprised 1,379 operating as regional headquarters (RHQs), 2,352 as regional offices (ROs) and 4,255 as local offices (LOs).

In terms of jobs, the number of people engaged by the foreign and Mainland companies (435,000) reached an all-time high, and went up by 3 per cent compared to 422,000 persons in 2015.

In terms of source country/territory, Japan ranked first with 1,376 companies in Hong Kong, followed by the US (1,353), Mainland China (1,123), the UK (656), Taiwan (387) and Singapore (382). By sector, import/export trade, wholesale and retail topped the list (3,575), followed by financing and banking (1 520), and professional, business and education services (1,283).

“Despite ongoing uncertainties in the global economy, we are cautiously optimistic going forward,” says the Acting Director-General of Investment Promotion, Charles Ng.

“As the results of the latest survey show, Hong Kong continues to attract overseas companies and Mainland companies, thanks to our city’s unique location in the region, our role as the ‘super-connector’ between Mainland China and the rest of the world, and the latest innovation push by the government. All these factors will continue to contribute to a favorable business environment in Hong Kong. InvestHK will continue its robust investment promotion efforts.”

 

Suggested Articles

Some of you might have already been aware of the news that Questex—with the aim to focus on event business—will shut down permanently all media brands in Asia…

Some advice for transitioning into an advisory role

Global risks are intensifying but the collective will to tackle them appears to be lacking. Check out this report for areas of concern