Hong Kong hosts 41% more Chinese and foreign companies with record investments: InvestHK
More companies set up their operations in the city last year, taking non-Hong Kong company registrations to record-high
Hong Kong attracted 41 per cent more mainland and foreign companies last year while winning a record HK$67.7 billion (US$8.7 billion) of investment commitments, following a slew of incentives to help revive the economy, according to InvestHK.
Some 539 mainland and overseas firms opened their operational bases in the city, up from 382 in 2023, the investment promotion agency said on Monday. More than half of the new firms came from mainland China, while those from the US, France, UK and Singapore were also included.
“It demonstrates Hong Kong’s resilience and adaptability, and businesses’ strong confidence in the city as the preferred base to expand in the region,” said Alpha Lau Hai-suen, the director general. The firms were expected to create 6,864 new jobs, she added.
The total investment in 2024 climbed 10 per cent to a record HK$67.7 billion, the agency said.
Hong Kong unveiled several initiatives to lure foreign investors in a bid to revive the economy from its post-pandemic slump. They included tax concessions and an upgraded investment-for-residency scheme to entice global family offices. The government tasked InvestHK to bring in 1,130 firms from 2023 to 2025.
