【Record high numbers of companies in HK with overseas or Mainland parent companies and startups】 Hong Kong has achieved good results in attracting enterprises and investment. According to the results of the 2024 Annual Survey of Companies in Hong Kong with Parent Companies Located outside Hong Kong and the 2024 Startup Survey released by the Government today, the number of companies in Hong Kong with overseas or Mainland parent companies rose to 9,960 in 2024, while the number of startups in Hong Kong increased to 4,694, both reaching record highs. Secretary Yau said that these encouraging results demonstrated that Hong Kong is becoming increasingly attractive to businesses and remains an ideal place for Mainland and overseas enterprises to set up or expand their operations. The results are also a strong testimony to companies' confidence in Hong Kong. With our unique advantages under 'one country, two systems', Hong Kong is the best two-way platform for overseas enterprises to tap into the Mainland market and for Mainland enterprises to go global, and therefore is their prime destination for investment. According to the survey results, there were 9,960 companies in Hong Kong with parent companies located outside Hong Kong, representing an increase of 10% when compared with that of last year. The number of people employed reached 493,000, recording an increase of 5% year on year. Analysed by the location of parent company, the Mainland was ranked first, followed by Japan, the US, the UK and Singapore. Meanwhile, startups in Hong Kong reached 4,694, up by 10 % from last year. These startups engaged 17,651 persons, representing an increase of 7% compared to last year's figure. Secretary Yau noted that while factors such as global economic uncertainties, a shift in market behaviour after the epidemic and geopolitical tensions have affected companies' expansion plans, Hong Kong is, as always, resilient, and has maintained its unique advantages and attractiveness to the business community, offering enterprises with vast opportunities. The government will continue to promote Hong Kong's advantages globally and tell good stories of the city as well as encourage enterprises to make good use of Hong Kong to tap into the GBA and the broader Mainland market. Links to the two survey results: https://lnkd.in/gfp3RNs3 https://lnkd.in/gGMqv4HA
