Hong Kong's business environment remains vibrant: official

HONG KONG -- A senior government official said Tuesday that Hong Kong's business environment remains vibrant, as the numbers of business operations in Hong Kong from overseas and the mainland reached a record high in 2021.

Edward Yau, secretary for commerce and economic development of the Hong Kong Special Administrative Region (HKSAR) government, made the remarks at a business breakfast held by the European Union (EU) Office to Hong Kong and Macao.

Yau said that Hong Kong remains an ideal place for companies to set up or expand their business despite the impact of the COVID-19 pandemic.

The EU is one of Hong Kong's largest trading partners in goods and services, and has established close trade relations with Hong Kong over the years, according to Yau.

As a free, open economy with a robust legal system and highly internationalized business environment, Hong Kong will continue to assist local and international enterprises to seize the huge opportunities brought by the mainland development as well as its integration with regional and global markets, Yau said.

According to a survey published in early October by the HKSAR government, the number of business operations in Hong Kong with parent companies overseas and in the Chinese mainland has increased by 10 percent from 8,225 in 2017 to 9,049 in 2021.

Another survey, the 2021 Annual Startup Survey, found that the number of start-ups in Hong Kong increased 68.5 percent to 3,755 during the same period.