Industry insiders are full of confidence in the prospects of Hong Kong's business environment

  Xinhua News Agency, Hong Kong, March 30 (Reporter Huang Qiantian) Since the outbreak of the new crown pneumonia epidemic, the business environment around the world has faced major challenges.

In the face of the complex and severe fifth wave of the epidemic in Hong Kong, industry analysts believe that although Hong Kong's economic development will be under pressure in the short term, it depends on the unique institutional advantages conferred by "one country, two systems", backed by the huge development market in the mainland, and Hong Kong's business environment. The prospects are excellent, and the future development space is limitless.

The implementation of the national security law in Hong Kong is conducive to the business environment

  Fu Zhongsen, director of the Hong Kong Special Administrative Region Government Investment Promotion Agency, said recently that various data and exchanges between Invest Hong Kong and enterprises show that the implementation of the National Security Law in Hong Kong has not caused foreign capital to withdraw from Hong Kong.

  Fu Zhongsen pointed out that the number of overseas and mainland-based companies in Hong Kong increased to over 9,000 last year, a record high, and the number of start-ups established in Hong Kong by local, international and mainland companies also hit a new high.

InvestHK assisted 333 companies in establishing or expanding in Hong Kong last year.

  Gao Bo, member of the All-China Youth Federation and CEO of Hong Kong Guoli Intelligent Technology Co., Ltd., said that after the implementation of the National Security Law in Hong Kong and the improvement of the electoral system, the business environment in Hong Kong will undoubtedly become better.

For all economies, the greatest fundamentals of the business environment are security and stability.

The implementation of the national security law in Hong Kong has eliminated the doubts of global investors and institutions in Hong Kong about the social stability of Hong Kong.

  Hong Hao, managing director and chief strategist of BOCOM International, said that after the implementation of the National Security Law in Hong Kong and the improvement of the electoral system, the business environment in Hong Kong has been significantly improved, and the financial market has become more stable.

During the "turbulence of the amendment", the Hong Kong dollar was weak against the US dollar most of the time, mostly in the weak-side exchange range.

However, since the passage of the National Security Law in Hong Kong, the Hong Kong exchange has performed strongly and will remain in the strong exchange range until February 2021, reflecting the restoration of market confidence in Hong Kong and the exchange.

At the same time, the level of financing in the Hong Kong market has improved. One year after the implementation of the National Security Law in Hong Kong, the amount of new equity financing in Hong Kong increased by 90% compared with the previous 12 months.

  Yang Yuchuan, a visiting professor at the Hong Kong School of Financial Management, said that the implementation and improvement of the electoral system of the National Security Law in Hong Kong has basically eliminated the direct destructive effect of the chaos in Hong Kong on the development of the Hong Kong Special Administrative Region; It provides strong impetus and development space, and enhances Hong Kong's attractiveness to international capital.

For Hong Kong, the unfavorable factors are declining, the favorable factors are rising, and the business environment is bound to get better and better.

"One Country, Two Systems" keeps the Hong Kong market attractive

  With its geographical location of "backed by the motherland and facing the world", Hong Kong has for many years been a "super-connector" connecting the mainland and the international market, and has unique advantages in promoting Sino-foreign trade, capital flow, logistics and transportation.

  Yang Yuchuan said that "one country, two systems" is a unique advantage of Hong Kong. It not only retains the original unique advantages of laws, rules, financial system and living habits that are more in line with the West, but also obtains new development momentum by serving the mainland and integrating with the mainland economy.

The organic combination of the two has created Hong Kong's status as a two-way platform.

Overseas companies and investors "go to the mainland" through Hong Kong, and mainland companies also use Hong Kong to expand their business overseas.

  Gao Bo said that with the changes in the international environment such as Sino-US relations and the development of Southeast Asia and other regions, the global dependence on the supply chain of the Chinese market and the demand for investment in China are increasing, and the demand for mainland enterprises to enter the international market, especially in Southeast Asia, is also increasing. , Hong Kong's role as a two-way platform for entering and leaving the mainland market will continue to strengthen.

  Huang Yidong, president of the Greater China Branch of CPA Australia, said that as an international financial center, Hong Kong is the main platform for fundraising and financing for mainland and overseas companies.

In recent years, the Hong Kong Stock Exchange has researched and reformed the listing system, allowing companies with different rights structures of the same share, unprofitable biotech companies to list in Hong Kong, and Chinese concept stocks to come to Hong Kong for secondary listing. This year, the "special purpose acquisition company" mechanism was introduced to continue Enhance the attractiveness of Hong Kong's financial market to Chinese and foreign companies and investors.

Integrating into the country's development creates unlimited business opportunities for Hong Kong

  The national 14th Five-Year Plan clearly supports Hong Kong in enhancing the international competitiveness of the eight centres.

In order to further deepen economic cooperation with other cities in the Guangdong-Hong Kong-Macao Greater Bay Area, the SAR government announced the construction of a northern metropolitan area with an area of ​​about 300 square kilometers and the innovation and technology industry as the economic engine.

Respondents generally stated that Hong Kong's further integration into the overall development of the country will provide a steady stream of business opportunities for different enterprises operating in Hong Kong.

  According to the Guangdong-Hong Kong-Macao Greater Bay Area Business Technology Survey conducted by CPA Australia last year, 60% of respondents predicted that the Greater Bay Area will become the world's leading technology hub within five years.

Huang Yidong said that the plan to build the northern metropolitan area will bring more land resources to the development of Hong Kong, which will help the expansion of science and technology enterprises, especially in terms of R&D and commercialization.

  Yang Yuchuan said that the construction of the northern metropolitan area will definitely make Hong Kong's business environment more attractive, which will not only help Hong Kong to have closer ties with the mainland economy, but also catch the fast train of the mainland's rapid economic development, laying a solid foundation for the recovery of Hong Kong's economy. It will also create more investment opportunities for foreign companies and enhance their confidence in investing in Hong Kong and the Mainland.

Confidence in Hong Kong's business environment

  "I have absolute and uncompromising confidence in Hong Kong's economic prospects." The Financial Secretary of the Hong Kong Special Administrative Region Government, Chen Maobo, said in his blog recently that as long as the Hong Kong Special Administrative Region government has an accurate judgment on the overall situation, grasps the general trend, actively responds, and grasps the country well With the development and support, we can overcome short-term challenges and move forward.

  According to a survey released by the American Chamber of Commerce in Hong Kong earlier this year, American companies in Hong Kong have significantly stronger confidence in Hong Kong's business prospects than last year. More members plan to expand investment, and more companies have increased revenue than companies with declining revenue.

  Hong Hao said that the unique geographical advantage and the stable and long-term "one country, two systems" together constitute the endogenous logic of Hong Kong's prestigious international financial center status. foundation.

"We will eventually overcome the epidemic, and in the long run, Hong Kong's business prospects remain vibrant."

  According to a recent survey by CPA Australia, the majority of respondents said their companies or employers are "very confident" and "confident" to overcome the fifth wave of the epidemic, showing that Hong Kong companies remain resilient in the face of adversity.

  Huang Yidong said that although Hong Kong is affected by the fifth wave of the epidemic and its economic development is under pressure in the short term, the advantages of Hong Kong's basic business environment have not changed.

With the support of the central government and the concerted efforts of all walks of life in Hong Kong to fight the epidemic, it is expected that the Hong Kong economy will have the opportunity to rebound significantly after the epidemic is brought under control.

From a long-term perspective, maintain confidence in Hong Kong's business prospects.

Keywords: