31年來，在港的內地企業數量首次超過美國企業

Recently The Standard on-line  carries the following Bloomberg article:

Mainland firms in Hong Kong outnumber US firms for first time in 31 years 

Local | 25 Nov 2022 2:55 pm

The number of American companies with regional headquarters in Hong Kong has dropped below mainland Chinese firms for the first time in at least 31 years.

There were 240 US companies with regional hubs in the city as of June 1, down 14 from the previous year and the lowest number since 2002, according to data released by the Census and Statistics Department dating back to 1991. Mainland Chinese firms with regional headquarters in Hong Kong fell by one to 251, the data show.

Strict Covid curbs, a national security campaign and the struggling economy have dented Hong Kong’s appeal as an international finance center, with businesses shifting resources to other centers such as Singapore. While Hong Kong has removed its most onerous pandemic measures, such as hotel quarantine, visitors are still subject to a series of restrictions, and the border with mainland China remains closed.

Chief Executive John Lee acknowledged in his policy address last month that the city had lost 140,000 workers over the past two years and made attracting overseas talent one of his top priorities.

It will be an uphill climb. The number of visas granted to overseas workers in Hong Kong fell by about two-thirds during the Covid-19 pandemic. Travel has yet to pick up. Cathay Pacific Airways Ltd., Hong Kong’s flag carrier, flew just 16 percent of pre-pandemic passenger capacity in September, while Singapore Airlines Ltd. was back to about 73 percent of 2019 levels, similar to other major global operators like British Airways Plc and Deutsche Lufthansa AG. 

Mainland Chinese firms accounted for 18 percent of the city’s regional headquarters, compared to 17 percent by American companies, the data showed. Japanese, UK and German companies were the next biggest by number. At the peak in 2012, there were 333 US firms with hubs in the city.

(Bloomberg)

Translation

在香港設有地區總部的美國公司數量至少 31 年來首次低於中國內地公司。

根據美國政府統計處發布的自 1991 年以來的數據，截至 6 月 1 日，在香港設有區域中心的美國公司有 240 家，比上年減少 14 家，為 2002 年以來的最低水平。 數據顯示，在香港設有地區總部的中國內地企業減少 1 家至 251 家。

嚴格的 Covid 遏制措施、國家安全運動和陷入困境的經濟削弱了香港作為國際金融中心的吸引力，企業將資源轉移到新加坡等其他中心。 儘管香港取消了酒店隔離等最繁重的抗疫措施，但遊客仍受到一系列限制，與中國大陸的邊界仍然關閉。

特首李家超在上個月的施政報告中承認，該市在過去兩年中失去了 140,000 勞動人口，並將吸引海外人才作為他的首要任務之一。

這將是一個艱難的的工作。 在 Covid-19 大流行期間，香港向海外工人發放的簽證數量下降了約三分之二。 旅行尚未回暖。 香港的旗艦航空公司國泰航空公司 9 月份的客運量僅為大流行前的 16%，而新加坡航空公司則恢復到 2019 年水平的 73% 左右，與其他主要全球運營商, 例如英國航空公司和德國漢莎航空公司等類似。

數據顯示，中國大陸公司佔該市地區總部的 18%，而美國公司的這一比例為 17%。 日本、英國和德國公司的數量次之。 在 2012 年的高峰期，有 333 家美國公司在該市設有中心。

So, because of strict Covid curbs, a national security campaign and the struggling economy, Hong Kong’s appeal as an international finance center has been fading, with business owners shifting their resources to other locations such as Singapore. Let’s see how Hong Kong will regain its vitality while its a national security campaign is still in place.