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SAR Govt Confident in HK's Business Environment
A spokesman for the Hong Kong Special Administrative Region (SAR) government Wednesday expressed confidence in a continued growth of the Hong Kong economy and expansion opportunities for international business in the years ahead.
He noted that foreign direct investment in Hong Kong had increased by more than 100 percent from US$14.8 billion to US$33.2 billion between 1998 and September 2000.
"In 1999, Hong Kong was the second largest recipient of foreign direct investment in Asia after China's Mainland. A total of US$23.1 billion was injected into Hong Kong economy. This record surpassed that of economies in the region," the spokesman said.
"In the year to October 2000, US net buying of Hong Kong equities amounted to US$5.3 billion, far higher than other places in Asia," he said.
According to surveys conducted by Hong Kong's Census and Statistics Department, the number of regional headquarters and offices has continued to increase from a total of 2,466 in 1998 to 3,010 in 2000.
"This clearly supports the report recently issued by the Economist Intelligence Unit that Hong Kong provides the only true regional headquarters function in Asia," he said.
"These facts and figures demonstrate clearly the confidence of foreign investors in Hong Kong's future and that they are translating their confidence into action," the spokesman said.
"Following the accession of China to the World Trade Organization, Hong Kong economy is forecast to expand by an additional 5.5 percent in 10 years. Also, the external trade of China's Mainland is expected to grow substantially," he said.
"This will provide business opportunities for both international and local companies in Hong Kong and will benefit the transportation, air cargo, import and export business and other spheres of the Hong Kong economy," the spokesman added.
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