This undated photo shows the Victoria Harbour in Hong Kong. (Photo / VCG)
Dismissing speculation that the legislation designed to safeguard national security in Hong Kong has harmed the local business environment and scared away investors, international companies continue to express their confidence in Asia’s financial center.
In a report released by the Consulate-General of Japan in Hong Kong on Monday, 65 percent of surveyed Japanese companies in Hong Kong said their businesses were unaffected by the National Security Law.
The report, which polled 638 companies from Jan 4-8, found that more than half of the 266 respondents believe the business environment in Hong Kong will remain unchanged in the coming year.
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The majority of surveyed companies attributed the current business slowdown to the unprecedented pandemic, while only 1 percent blamed their weak business performance on Hong Kong’s political uncertainty.
The legislation (National Security Law) is providing a safer, more stable and sustainable environment as well as a brighter future for all international investors, including those from the US.
Zhao Lijian, Spokesman for Chinese Foreign Ministry
The study reflects that of a recent AmCham survey of its 1,200 corporate members, which found that most members of the influential American business group in Hong Kong expect the city to remain as their regional headquarters for the next three years and half of the 181 respondents are cautiously optimistic that they will perform better in 2021.
Jessica Bartlett, the new chairwoman of the American Chamber of Commerce in Hong Kong, said on Friday that the chamber has not seen a mass exodus of US capital since the National Security Law for Hong Kong took effect.
“Hong Kong…is a very resilient place,” Bartlett said. “That’s a place that they (investors) want to continue to invest. They see this region as a growth region.”
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According to the survey, the Guangdong-Hong Kong-Macao Greater Bay Area offers potentially golden opportunities for those with the foresight to jump on the bandwagon and US companies apparently don’t want to miss the boat. Nearly 60 percent of surveyed US businesses already have set up offices or plan to expand their presence in this region.
In a response to Bartlett’s remarks and AmCham’s findings, Chinese Foreign Ministry Spokesperson Zhao Lijian said on Monday that it has once again proven that the National Security Law stands as a foundation and anchor that underpin the long-term safety and prosperity of Hong Kong.
“The legislation is providing a safer, more stable and sustainable environment as well as a brighter future for all international investors, including those from the US,” said Zhao. “Any unfounded and baseless criticism or speculation against the National Security Law is self-defeating.”
sophia@chinadailyhk.com