‘Money is money’: US, UK firms still coming to Hong Kong, commerce chief says
Companies from the United States, Britain and Singapore have been among the leading sources of inbound foreign capital in Hong Kong so far this year, the city’s commerce minister has said, insisting that “money is money” despite geopolitical instability. In an exclusive, wide-ranging interview with the South China Morning Post, Secretary for Commerce and Economic Development Algernon Yau Ying-wah…
The commerce chief of Hong Kong, Algernon Yau Ying-wah, stated in an exclusive interview with the South China Morning Post that American, British, and Singaporean companies were among the top sources of foreign capital in the city this year. Despite geopolitical instability, Yau emphasized that "money is money" and that businesses are practical.
He informed that 516 overseas and mainland Chinese companies established or expanded operations in Hong Kong during the first eight months of the year, with the US accounting for 27, the UK for 21, and Singapore for 29. Hong Kong remains the leading destination for initial public offerings globally, and the city's geopolitical situation, while changing, continues to attract businesses.
The Greater Bay Area scheme, linking Hong Kong, Macau, and nine cities in Guangdong province, played a significant role in attracting these companies. The investment promotion agency, InvestHK, is on track to meet its target of helping at least 1,200 enterprises set up or expand operations in Hong Kong in 2026 and 2027, generating 12,000 jobs and attracting HK$120 billion in capital.
Written by urgent.news from South China Morning Post - Hong Kong's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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