On the 19th, the Director of the Bureau of Commerce and Economic Development of the Hong Kong Special Administrative Region Government, Yau Tenghua, stated that the business environment in Hong Kong remains superior and prosperous.

He said that with the implementation of the Hong Kong National Security Law and the improvement of the electoral system, Hong Kong has returned to the right track of "one country, two systems", and all aspects are developing in a safe, secure and stable environment.

  Qiu Tenghua cited Hong Kong's recent achievements in an online seminar at the World Alliance Forum in 2021.

Among them, Hong Kong ranked the sixth largest commodity trading economy in the world based on the total value of merchandise trade last year; in a report published by the United Nations Conference on Trade and Development, Hong Kong ranked third in the world's third largest foreign direct investment destination in 2020; And in the 2021 "World Digital Competitiveness Ranking", Hong Kong ranks first in Asia and second in the world.

  In addition, Hong Kong’s total merchandise trade in the first nine months of this year hit a new high, reaching nearly one trillion U.S. dollars.

The total amount of public offerings raised in the first year of the implementation of the Hong Kong National Security Law also increased by more than 50% from the previous 12 months.

The number of Hong Kong-based companies and Hong Kong start-ups with parent companies outside Hong Kong both reached a new high this year.

  Qiu Tenghua said that facts speak louder than words, and these achievements clearly affirm that Hong Kong is one of the most competitive economies in the world.

  Qiu Tenghua also introduced Hong Kong's booming innovation and technology ecology.

He cited the birth of 12 unicorn companies in Hong Kong as an example, and pointed out that Hong Kong's research and development activities have increased significantly, and the number of talents, start-ups and venture capital engaged in the industry has also increased.

  He said that Hong Kong is committed to the development of biotechnology and reformed its listing requirements three years ago to allow biotechnology companies with no income to be listed in Hong Kong to raise funds.

Hong Kong has now become Asia's largest biotechnology fundraising center, second only to Nasdaq.

Hong Kong is also the first region in the world where clinical test data is simultaneously recognized by the mainland, the United States and the European Union's authoritative drug regulatory agencies.

(Headquarters reporter Ye Lili Zhu Dan)