More overseas companies set up operations in HK
Overseas companies have set up 1,846 regional operations in Hong Kong, representing an increase of 26 per cent over the number identified last year, a recent survey by the Industry Department reveals.
Speaking at a press conference today (Tuesday) the Director-General of Industry, Miss Denise Yue, said: "Hong Kong's strategic location and excellent external communication links have enabled it to become a major regional representation centre.
"This role has assumed increasing importance with the rapid economic development in the Asia Pacific region in recent years."
The 1994 Survey of Regional Representation by Overseas Companies in Hong Kong, the fifth such survey conducted by the Industry Department since 1990, identified 714 regional headquarters and 1,132 regional offices in Hong Kong as at June 1, 1994.
In last year's survey, 624 regional headquarters and 844 regional offices of overseas companies were identified in Hong Kong.
The United States had the largest number of regional headquarters in Hong Kong, with 178 companies, followed by Japan (91 companies) and the United Kingdom (91 companies).
The major lines of business of the regional headquarters included wholesale, retail, import and export activities, followed by manufacturing, finance and banking, and transport and related services.
As regards regional offices, the survey showed that Japan had the largest number, with a total of 257. The United States (193 companies) was next, followed by the United Kingdom (107 companies), China (69 companies) and Germany (52 companies).
Trading was the most common economic activity pursued by regional offices in Hong Kong, followed by finance and banking, and manufacturing.