The number of companies established in Hong Kong and startups has reached a new high, and Hong Kong's competitiveness continues to rise.

On December 17th, the results of the "2024 Annual Survey of Companies with Overseas Parent Companies in Hong Kong" and the "2024 Startup Business Survey" showed that in 2024, the number of companies with parent companies overseas and on the mainland in Hong Kong increased to 9960, while the number of startup businesses in Hong Kong increased to 4694, both reaching a new high. This demonstrates that Hong Kong's business attractiveness is increasing, and it continues to be an ideal location for companies from both domestic and international markets to establish or expand their businesses. Nicholas Yang, the Secretary for Commerce and Economic Development, said, "With its unique advantages under the 'one country, two systems' policy, Hong Kong is the best dual platform for overseas companies to explore the mainland market and for mainland companies to 'go global', making it their preferred investment destination. Despite uncertain global economic conditions, changes in market patterns post-pandemic, and factors like geopolitical tensions hindering companies' plans to expand globally, Hong Kong's business-friendly environment continues to maintain its unique advantages and attractiveness, bringing huge opportunities for businesses." He continued, "On the other hand, the number of startup businesses in Hong Kong continues to grow significantly, showing that the various support measures introduced by the government in recent years are effective in providing an ideal ecosystem for startups, promoting the vibrant development of local startup businesses." As Hong Kong continues to recover after the pandemic, the number of companies with parent companies overseas and on the mainland in Hong Kong has grown substantially. According to the "2024 Annual Survey of Companies with Overseas Parent Companies in Hong Kong" conducted jointly by Invest Hong Kong and the Census and Statistics Department, the number of such companies reached 9960 in 2024, an increase of more than 920 from the previous year, representing a 10% increase, with 493,000 employees, a 5% year-on-year increase. By analysis based on the location of the parent company, in 2024, the number of companies from mainland China in Hong Kong was the highest (2620), followed by Japan (1430), the United States (1390), the United Kingdom (720), and Singapore (520). Yang pointed out, "Mainland companies in Hong Kong continue to take the lead, once again proving that Hong Kong is the preferred platform for mainland companies to 'go global'. The increasing number of companies from overseas in Hong Kong also reflects that despite the impact of geopolitical tensions, companies maintain a practical attitude towards expanding their business, rationally choosing Hong Kong as their base to expand their business in Asia. As the only city in the world that combines Chinese and global advantages, Hong Kong will continue to actively play the role of a 'super connector' and 'super value-added person', better 'bringing in and going out', and enhancing the momentum of Hong Kong's economic and trade development." Data shows that among the 9960 companies in Hong Kong, the largest number of companies engaged in import and export trade, wholesale and retail businesses (4730), followed by financial and banking industries (2020), and professional, commercial, and educational services (1530) in 2024. In addition, the results of the "2024 Startup Business Survey" conducted by Invest Hong Kong show that Hong Kong's startup businesses continue to thrive, with a 10% increase to 4694 companies compared to last year, reaching a historic high, proving the attractiveness of Hong Kong to startup founders. These startup businesses employ 17,651 people, a 7% increase from the previous year. These startup businesses cover various industries, including financial technology, information technology, electronics commerce, education and learning, and data analytics. It is worth mentioning that the health and medical, as well as sustainable/green technology industries recorded significant increases of 54% and 82% respectively.