Hong Kong Special Administrative Region file photo: Xinhua

Hong Kong is forging ahead with resilience and innovation amid global uncertainty, with its core competitiveness intact and new strengths emerging, according to a business environment report released by the Hong Kong Special Administrative Region (HKSAR) government on Wednesday.

Themed "One Country, Two Systems: Unique Advantages," the report is the latest update following the HKSAR government's first business environment report released in 2021. It aims to highlight to the international community the strengths Hong Kong enjoys under "One Country, Two Systems" and the city's broad prospects for future development.

The report noted that, amid the impact of trade tensions, countries and regions around the world are actively seeking external investment opportunities, and global capital is undergoing reallocation. Hong Kong is well positioned to help countries diversify risks and attract capital, businesses, and talent. 

The HKSAR government will continue to stay proactive in recognizing and responding to changes, strive to create a more favourable environment for investment and business, and introduce timely policy measures to support enterprises in tackling challenges, according to the report. 

The report highlighted strong investor confidence in Hong Kong, citing a 10 percent year-on-year increase in the number of local offices of overseas companies, reaching 9,960 in 2024. As of the end of 2024, Hong Kong's asset and wealth management business totalled HK$35.1 trillion ($4.49 trillion). By March 2025, the city had 976 registered funds, with net capital inflows exceeding $44 billion, up 285 percent year-on-year, the report said.

The report said the HKSAR government will manage risks with a bottom-line mindset, accelerate steady economic progress, and deepen integration with national strategies. While maintaining its international edge, Hong Kong will strengthen regional and global cooperation and play a key role in the dual circulation strategy, contributing actively to the Belt and Road Initiative and the Greater Bay Area development.

Hong Kong Financial Secretary Paul Chan Mo-po said at a press conference on Wednesday that the city's economy is on a steady recovery path, with GDP growing 3.1 percent in the first quarter and the momentum expected to continue in the second. He added that the implementation of the National Security Law has restored stability, protected residents' rights and freedoms, and strengthened Hong Kong's position as a safe hub for global investment, according to the Xinhua News Agency.


Global Times