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American Companies Confident in HK Economy: Survey
American companies' optimism and confidence in the economy and business environment of the Hong Kong Special Administrative Region (SAR) is growing, shows a survey released on December 8 by the American Chamber of Commerce in Hong Kong.
Commenting on the survey, AmCham Chairman Richard Kahler said due to the strong rebound in the Hong Kong economy for the past three quarters, coupled with the prospect of enhanced business opportunities with China's WTO entry, "the American business community is bullish on Hong Kong's medium-term outlook."
The survey found that 95 percent of respondents foresee a "good " or "satisfactory" outlook for the year 2001, as compared to 84 percent forecast for 2000, with the percentage of "good" ratings rising significantly this year, from 25 percent in 1999 to 41 percent this year.
More good news for Hong Kong is the survey's indication that Hong Kong will maintain the region's commercial hub and preferred location of headquarters for AmCham members, with the trend to increase the size of regional offices returning to pre-Asian financial crisis level.
The survey also indicated that the positive outlook will be sustained through 2005.
"The SAR's geographical location, low taxes, free port status, communications network and superior infrastructure make Hong Kong a very attractive location for regional business operations," Kahler said.
"Another encouraging sign is that more AmCham companies are anticipating better performances over the next three years and planning to expand their operations both in Hong Kong and China, a fact that recognizes China's economic dynamics and Hong Kong's key role as an access point," he said.
AmCham's 2000 Business Survey, a survey done annually to evaluate Hong Kong's business environment, was mailed to 985 corporate representatives and a total of 385 responses were received in October, representing a 39 percent response rate.
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