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By ExpatBriefing.com Editorial
28 October, 2013
The number of business operations in Hong Kong with parent companies overseas and in Mainland China has grown by an annual 2.7 percent to 7,449, with firms with Japanese parent companies leading the way.
The 2013 Annual Survey of Companies, released by Invest Hong Kong and the Census and Statistics Department, noted that Japan topped the survey with 1,389 companies in Hong Kong, an annual gain of 14 percent, and that two others in the top five were the Mainland and Taiwan. The number of businesses with parent companies located in Asia grew 7.8 percent to reach 3,461.
The Director-General of Investment Promotion Simon Galpin said the survey's findings showed Hong Kong's robustness, particularly in the eyes of its regional neighbors.
"Japan has become the number one source of foreign companies that are based here and has overtaken the United States for the first time since 2001," Galpin continued. "We are seeing Japanese companies in a wide variety of sectors, in transportation and logistics. A very strong number are in food-related businesses."
It was added that the survey found "Hong Kong's simple tax system and low tax rate, free flow of information, geographical location, free port status, rule of law, and independent judiciary as influential factors in companies' choosing to open headquarters."
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