Number of overseas and Mainland firms in Hong Kong grows – surveys show

Maria Nikolova

The number of overseas and Mainland companies in Hong Kong increased by 9.9% from 8,225 in 2017 to 9,040 in 2019.

The Hong Kong Government has earlier today published the findings of two surveys concerning the business landscape, indicating that the number of firms in Hong Kong with parent companies overseas and in Mainland China and the number of start-ups in Hong Kong have been on the rise.

Results of the 2019 Annual Survey of Companies in Hong Kong with Parent Companies Located Outside Hong Kong, jointly conducted by Invest Hong Kong (InvestHK) and the Census and Statistics Department (C&SD), show that the number of overseas and Mainland companies in Hong Kong grew 9.9% from 8,225 in 2017 to 9,040 in 2019.

In terms of jobs, the number of people engaged by the overseas and Mainland companies reached 493,000, 11.3% higher than in 2017.

In terms of source country/territory, Mainland China ranked first with 1,799 companies, followed by Japan (1,413), the United States (1,344), the United Kingdom (713) and Singapore (446).

Across sectors, import/export trade, wholesale and retail topped the list (4,181), followed by financing and banking (1,787) and professional, business and education services (1,373).

The surveys indicate that Hong Kong’s start-up scene remains vibrant. According to the 2019 Startup Survey conducted by InvestHK, the number of start-ups in Hong Kong saw a growth of 42.8% to 3,184.

These start-ups engaged 12,478 persons, up by 97.4% compared to 2017 levels. The start-ups are active in different business sectors, such as financial technology, e-commerce, supply chain management and logistics technology, as well as information, computer and technology.

The outcomes of the two surveys highlight the attractiveness of Hong Kong to Mainland China and the international business community, and the important role the city plays in nurturing start-ups.

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