HK retains competitive edge despite pandemic
Experts believe that Hong Kong has maintained its competitiveness on all fronts despite the challenges posed by the King / AFP pandemic.Dale

global companies, investors grant the business environment of the city, the vote of trust

Hong Kong, which is recovering from a fifth wave of Covid-19, remains a magnet for international companies and investors, who have expressed confidence in the business environment of the city and new opportunities in The Guangdong-Hong-Macao Greater Bay area.

The last wave of infections, which has resulted in more than 1 million cases, is finally being eased in the city. The Government of the Special Administrative Region of Hong Kong has decided to gradually relax the COVID-19 rules over the next three months, while continuing to safeguard the health of citizens.

Experts believe that companies and individuals who have temporarily left Hong Kong. Eventually you will return as the outbreak moves, due to the ease of doing business in the city.

Although some companies have left Hong Kong, the number of companies arriving continue to grow.

According to a census survey and Hong Kong statistics, the number of companies in the city with parent companies located outside it increased from 8,225 in 2017 to 9,049 last year. Even with the exclusion of companies from the Chinese continent, the number is still considerably higher than in 2017.

A Survey by Investhk, the Direct Investment Promotion Agency of the Hong Kong Government, found that companies They arrive from 90 locations around the world have been established in Hong Kong, which shows a high level of confidence in the institutional strengths of the city. In particular, it has the largest number of regional headquarters in Hong Kong, although those of the mainland are recovering rapidly.

In a report published last month, the International Monetary Fund also reaffirmed the position of Hong Kong as an important global financial center and emphasized that the city's financial sector has continued to expand in a robust manner, even during The pandemic.

John Siu, General Director of the Hong Kong Office for the Global Real Estate Company Cushman & Wakefield, believes that the foundations of the city as an international financial center, its free flow. Of capital, well-established legal system, low tax rates and favorable business environment, remains unchanged despite the recent surge in Covid-19 cases.

He said that the strict measures implemented to contain the virus would not jeopardize the attraction of the city to international long-term companies.

"In fact, we have constantly seen expansions or new configurations in the banking and finance sectors, such as asset management companies, financial technology service providers, Crypto merchants and coverage funds , In Hong Kong in recent years, "he added.

According to DBS Bank, which is based in Singapore, the financial competitiveness of Hong Kong will remain strong in the long term thanks to its Renminbi offshore business.

Samuel Tse Ka-Hei, group research economist at DBS Bank (Hong Kong), said: "It is easier for companies to organize their capital to flow inside and outside the continent through Hong Kong , compared to with other economies. Renminbi deposits are still spacious and increase by 28 percent year-on-year at the end of 2021 ".

According to society for global interbank financial telecommunication, or SWIFT, approximately 76 percent of global renminbi payments was settled. Through Hong Kong last year.

The city faces a brain drain due to pandemic prevention measures, but TSE believes that this is a short-term factor.

Guangdong,  Singapo, 

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