US enterprises 'surprise' in latest HK strategic batch

The United States has emerged as the leading source of foreign firms in Hong Kong's most recent strategic enterprise batch, according to the Office for Attracting Strategic Enterprises (Oases). In its latest selection, Oases welcomed 18 enterprise partners, bringing the total count of strategic enterprises in Hong Kong to 142. While Europe also contributed, Oases director-general Peter Yan emphasized the United States' significant presence.

This batch marked the first time the office had admitted a Korean and a Japanese enterprise as strategic enterprises. Mainland Chinese firms hailed from cities like Beijing, Shanghai, and Shenzhen. Oases had also explored other promising cities, particularly those specializing in advanced manufacturing and new energy. The 142 strategic enterprises that have settled in Hong Kong pledged a combined investment of HKD84 billion, leading to the creation of approximately 26,700 high-end jobs.

Yan reported that both capital investment and job creation had surpassed their targets. Over the first six batches, capital investment had exceeded initial pledges by about 30%. Oases employs a meticulous selection process, gaining deep insights into around 20-30% of the companies approached and assisting them in crafting development plans for Hong Kong.

Typically, the office contacts firms several months prior to their relocation and maintains follow-ups for over a year, addressing their first concrete landing project and aligning them with relevant policies and stakeholders.