Hong Kong political climate and high costs hitting overseas business confidence: survey
- German Chamber of Commerce survey finds problems include wariness at headquarters back home over effects of domestic national security law
Hong Kong’s German business contingent feels “unease” about the city’s political climate and the high cost of rent for offices and housing, a survey has revealed.
The poll, unveiled on Tuesday, also found that, although business confidence had almost got back to pre-pandemic levels, staffing problems and a perceived decline in the level of English skills worried companies.
Johannes Hack, the president of the German Chamber of Commerce, said the political situation and discussions over the new national security legislation had affected how the city was seen at companies’ headquarters at home.
“There, the impression that Hong Kong is increasingly becoming ‘just another Chinese city’ is becoming more common and it’s getting harder to make the case for all the ways in which Hong Kong is still different,” Hack added.
He said the cost of housing was also a problem that was becoming “more pronounced” because a weaker business environment had focused attention on expenses.
“In sum, we feel that our members on the ground are still mostly positive about their own and their business’ future in Hong Kong, Hack added.
