Number of regional HQs reaches all-time high in HK: survey

Home>>Business

Last updated at: (Beijing Time) Tuesday, October 21, 2003

Number of regional HQs reaches all-time high in HK: survey

DISCUSSION

CHINESE

SEND TO FRIEND

The number of regional headquarters in Hong Kong reached an all-time high, despite the outbreak of Severe Acute Respiratory Syndrome (SARS) and the difficult economic situation regionally and internationally, a survey released Tuesday said.

By June 2, 2003, there were 966 regional headquarters in Hong Kong of companies incorporated outside Hong Kong, according to results of the 2003 Annual Survey of Regional Offices Representing Overseas Companies in Hong Kong conducted by the Census and Statistics Department of the Hong Kong Government. It increased 1.9 percent compared with the same period of last year.

The director-general of Investment Promotion at Invest Hong Kong, the Hong Kong government's investment promotion agency, MikeRowse, was delighted with the outcome of the survey.

He said, "The fact that the number of regional headquarters in Hong Kong has continued to increase demonstrates that Hong Kong's economy is on the track toward recovery."

He added that signing of the Closer Economic Partnership Arrangement (CEPA) between Hong Kong and the mainland creates considerable potential for Hong Kong to strengthen its position asa center for value-added manufacturing and high quality services for the Chinese mainland market.

He expected that will attract more companies to invest here andincrease their presence in Hong Kong.

According to the survey, the United States topped the list of countries with companies having regional headquarters in Hong Kong.A total of 242 American companies had regional headquarters in Hong Kong in 2003. This was followed by Japan, with 168 companies,and the United Kingdom, with 86 companies.

The major lines of business of the regional headquarters in Hong Kong were wholesale, retail and import/export trades; and business services. Other major lines of business included finance and banking; manufacturing; and transport and related services, the survey said.

Questions?Comments? Click here

US Satellite Company Sets up Asian HQ in Hong Kong

Europe-based IEE opens regional headquarters in HK

PBEC to move international headquarters to Hong Kong

High-speed rail from Shanghai to Beijing reconsidered ( 3 Messages)

China's central bank governor on exchange rate of RMB ( 3 Messages)

Japan to pay China 300m yen for lethal gas leak incident ( 4 Messages)

Chinese, US presidents to meet in Bangkok ( 21 Messages)

Bush: China's manned space mission is not a threat ( 5 Messages)