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Ambrose Li

Most American firms with headquarters in Hong Kong have no intention of relocating elsewhere in the next three years despite concerns over US-China ties, a survey by a prominent business chamber has found.
A positive relationship between the two countries was the biggest concern for respondents over the coming year, the business sentiment survey by the American Chamber of Commerce in Hong Kong, or AmCham, showed.
Some 79 per cent of respondents said they had no intention of relocating their headquarters outside the city in the next three years.
The Hong Kong government’s best course for improving ties with the United States was to put “more focus on business issues, less focus on national security rhetoric”, according to 85 per cent of respondents.
“Members reported that US-China relations were their top concern in the coming year,” the chamber, which released the survey results on Thursday, said.
“Almost all companies [97 per cent] reported that a positive bilateral relationship is important to their business in Hong Kong and China.”
The survey was conducted between December and early January.
AmCham approached the top management of 500 Hong Kong-based companies that were also chamber members to take part in the survey, with a response rate of 18 per cent.
Respondents were asked to evaluate the city’s business outlook, operating environment, legal considerations, US-China relations, human resources, the Greater Bay Area and other sector-specific topics.
The survey was published shortly after US President Donald Trump’s return to office on Monday. Trump has threatened to introduce 10 per cent tariffs on Chinese goods, a move that observers have described as a lose-lose situation.

The study showed that 67 per cent of respondents expected relations to deteriorate in the coming year, with tensions between Washington and Beijing topping the list of business challenges.
Other top concerns included the slowing Chinese economy and negative overseas perceptions of Hong Kong.
According to the survey, 67 per cent of interviewees felt that “understanding different sectoral laws between Hong Kong and [mainland] China” was the United States’ best course of action to boost ties with the city.
The poll also found that 75 per cent of respondents viewed Hong Kong as competitive or highly competitive as an international business hub.
They cited the city’s international connectivity, free flow of capital, a low and simple tax system, its status as a gateway to the mainland, its legal and regulatory system, and the free flow of information and data.
The study showed that more companies were confident in Hong Kong’s rule of law than in previous years. Seventy per cent of respondents said the Beijing-imposed national security law or the Safeguarding National Security Ordinance had not negatively affected their operations.
The study also found that 35 per cent of respondents indicated plans for business expansion, while 51 per cent of interviewees intended to maintain their current hiring practices.
The poll also touched on the effect of US policies restricting American business investments in China, with 47 per cent of interviewees noting an overall global business impact.
Thirty-six per cent of respondents said they would reconsider their long-term Chinese business operations and 32 per cent said they had paused future investments in the country as a result.


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News

Hong Kong

Hong Kong Economy

American Chamber of Commerce survey finds 79 per cent of respondents have no intention of relocating despite concerns over US-China ties


American Chamber of Commerce survey finds 79 per cent of respondents have no intention of relocating despite concerns over US-China ties.


US-China relations

Donald Trump

United States

US-China trade war