Current location:business >>
U.S. firms confident in HK rule of law, poll finds
business9325People have gathered around
IntroductionMore United States enterprises have expressed confidence in Hong Kong's rule of law and its role as ...
More United States enterprises have expressed confidence in Hong Kong's rule of law and its role as an arbitration center, according to a survey released on Tuesday by the American Chamber of Commerce in Hong Kong.
The findings of the organization's 2024 Members Business Sentiment Survey, which was conducted online in November and December, were based on the views of 136 business decision makers of AmCham member companies. Thirty-five percent of those polled have global revenues exceeding $1 billion.
According to the survey, 79 percent of the respondents said they are confident about the rule of law in the Hong Kong Special Administrative Region, compared with 73 percent in 2023 and 25 percent in 2022. It also revealed that 78 percent of the companies do not plan to move their regional headquarters away from Hong Kong in the next three years.
A further 72 percent of the executives indicated that they expect the SAR would, to a great or moderate extent, retain its position as an arbitration center, especially for businesses with contractual relationships with their counterparts on the Chinese mainland.
Senior company executives cited Hong Kong's distinctive positioning in global banking, the city's judicial independence, the application of common law and legal practitioner professionalism, ease of enforcement and clean government as the SAR's advantages as an arbitration center.
In the survey, 69 percent of the enterprises' senior representatives said their operations had not been negatively affected by the National Security Law for Hong Kong. For those that have experienced negative effects, 65 percent said the impact has been indirect, such as declining staff morale, departure of Hong Kong employees, or diverting resources that are needed to seek guidance and/or compliance.
Seventy-six percent of the respondents viewed Hong Kong as highly competitive or competitive as an international business hub due to its international connectivity, free flow of capital, a low and simple tax regime, legal and regulatory system, free flow of information and data, the city's status as the gateway to the Chinese mainland, as well as its efficient infrastructure and transportation links.
However, the cost of living, including housing, the cost of doing business and talent availability are hurting Hong Kong's competitiveness.
Thirty-four percent of the surveyed enterprises said they are optimistic about Hong Kong's business conditions in 2024, but regard U.S.-China tensions, overseas public perceptions of the city and the sluggish mainland economy as the top three business challenges this year.
The respondents said they are also worried about Hong Kong's competitiveness in financial services due to the slowdown in the city's capital market activities and a limited regulatory governance framework on virtual assets.
Tags:
Reprint:Friends are welcome to share on the Internet, but please indicate the source of the article when reprinting it.“Stellar Space news portal”。http://iceland.downmusic.org/html-69c099853.html
Related articles
Ricky Stenhouse punching Kyle Busch could lead to suspension
businessNORTH WILKESBORO, N.C. (AP) — Ricky Stenhouse Jr. threw a right hook at Kyle Busch, and suddenly, an ...
【business】
Read moreNina Dobrev and boyfriend Shaun White are loved
businessRevolve Festival is holding its annual party hosted by the high-end online retailer known for its se ...
【business】
Read moreOver 1.1M people in Gaza facing food insecurity: UN
businessChildren try to get food relief in the southern Gaza Strip city of Rafah, on Dec. 31, 2023. [Photo/X ...
【business】
Read more
Popular articles
- Nadal returns to Roland Garros to practice amid doubts over fitness and form
- Global smartphone shipments climb nearly 8% in 1st quarter as Samsung retakes the lead
- Russia says proof show link between Moscow attack terrorists, Ukraine
- England cricket great Derek Underwood dies at age 78
- With Djokovic awaiting the winner, Murray trails Hanfmann at rain
- UN suspends night
Latest articles
Independent UN experts urge Yemen’s Houthis to free detained Baha'i followers
IAEA chief calls for maximum restraint over Zaporizhzhia attacks
UN court orders Israel to allow unhindered aid to Gaza
The Philippine president says he won't give US access to more local military bases
Bella Hadid goes braless in a thigh
Tourism booms in three
LINKS
- UN approves an updated cholera vaccine that could help fight a surge in cases
- UN OKs shipment of vaccine storage equipment to North Korea — Radio Free Asia
- Armenian victims group ask International Criminal Court to investigate genocide claim
- Quentin Tarantino SCRAPS plans for his final film The Movie Critic which had Brad Pitt set to star
- Missouri lawmakers back big expansion of low
- The iconic American rivers becoming so filthy with pollution they are 'endangered'
- UN OKs shipment of vaccine storage equipment to North Korea — Radio Free Asia
- An earthquake measuring 5.6 hits central Turkey. No immediate reports of casualties or damage
- Columbia University: Police arrest protesters who had set up pro
- Zimbabwe frees prisoners, including those sentenced to death, in an independence day amnesty