'Strategic enterprise investments in HK hit HK$28bn'

Investments made by the first six batches of firms brought to Hong Kong through the Office for Attracting Strategic Enterprises reached HK$28.3 billion as of the end of September, according to Financial Secretary Paul Chan. Writing in his weekly blog, Chan noted that, including the seventh batch of 18 firms recently welcomed, a total of 142 strategic enterprises have now established or expanded their operations in Hong Kong. “They are expected to generate around HK$84 billion in investment while creating roughly 27,000 jobs over the coming years,” he said. “More importantly, these investments are materialising on the ground. As of the end of September this year, actual investments by the first six batches reached HK$28.3 billion while employing over 10,300 people – exceeding the initial phased targets by 30 percent and 34 percent respectively.” Corporate confidence in Hong Kong is gradually being reflected in real economic outcomes, Chan said. He added that among the first six batches of enterprises, around 70 percent have established global or regional headquarters in Hong Kong, while nearly 90 percent have set up R&D centres. Chan said this brings not only capital and jobs, but also research and decision-making functions – both of which are crucial to maintaining...