Exploring New Horizons: Reaching the 100-Mark of Enticed Firms Drawn to Hong Kong, According to City Leaders
Hong Kong Pursues Global Expansion and Attracts Record Foreign Investment
Hong Kong, under the leadership of Chief Executive John Lee Ka-chiu, is embarking on a mission to attract cutting-edge foreign enterprises and talent while facilitating the overseas expansion of mainland Chinese companies [1][2]. This strategy aims to leverage Hong Kong's unique position as a gateway connecting Mainland China and the world, particularly targeting emerging overseas markets amid geopolitical and trade challenges.
In the past year, InvestHK has helped 1,333 companies establish or expand their operations in Hong Kong, marking a record high for a specific period [3]. These companies have brought in a substantial investment of HK$174 billion (US$22.1 billion) within their first year of operation, creating more than 19,000 jobs in the city [4].
The attraction of investments and talents is a key focus for Hong Kong. InvestHK has been instrumental in this effort, bringing in frontier technology enterprises expected to generate HK$50 billion in investments and create over 20,000 jobs, involving innovation and industrial space usage [1].
Hong Kong is also venturing into new markets overseas, cooperating with Mainland firms to seize international opportunities and maintain momentum despite geopolitical volatility [2]. The city is strengthening bilateral economic partnerships, such as expanding ties with countries like Oman, focusing on sectors like renewable energy and advanced technologies [3][5].
In addition to these efforts, Hong Kong is promoting talent attraction and retention to enhance its global competitiveness and sustain its role as a leading financial center [4]. John Lee Ka-chiu has written on social media that they will continue to attract investment to bring more momentum to the local economy.
As of July, there were over 15,000 non-local firms in Hong Kong, and over 1.5 million local businesses in the city [6]. These figures highlight the city's appeal to both local and foreign businesses.
John Lee Ka-chiu's forthcoming 2025 Policy Address is expected to outline these strategies in more detail [1][2][3][5]. The city is poised to increase foreign investment and explore new markets, while continuing to attract foreign enterprises to expand locally.
In line with Hong Kong's global expansion strategy, the city is actively pursuing business partnerships in finance, trade, and economy, aiming to attract cutting-edge foreign enterprises and stimulate investment in these sectors. With the support of organizations like InvestHK, the city has been successful in drawing record foreign investments, bolstering its position as a leading financial hub and creating numerous job opportunities.
