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Economic development

Invest Hong Kong Assists 223 Overseas and Mainland Enterprises in Setting Up or Expanding in Hong Kong, Creating Over 4,900 Jobs

Strategic Insights

— 2 min read

In recent years, the Hong Kong Government has been actively promoting economic growth by attracting enterprises and investments. Invest Hong Kong (InvestHK), a government agency responsible for promoting inward direct investment, has been assisting a large number of overseas and Mainland enterprises in setting up or expanding their businesses in Hong Kong. As of April this year, InvestHK has assisted 223 enterprises, representing an increase of 13% compared to the same period last year. These enterprises are expected to bring in direct investment of over $22.3 billion and create over 4,900 jobs within their first year of operations or expansion.

Key Takeaways:

  • In 2024, InvestHK assisted 539 Mainland and overseas enterprises in establishing and expanding their businesses in Hong Kong, representing an increase of over 40% year on year.
  • The number of companies in Hong Kong with overseas or Mainland parent companies in 2024 reached a record high of 9,960, including 1,410 regional headquarters.
  • From January to April this year, InvestHK assisted 223 Mainland and overseas enterprises, representing an increase of 13% as compared with the same period last year.
  • The top five places of origin of the assisted enterprises are the Mainland, the United States, Japan, the United Kingdom, and Singapore.
  • The top five sectors are the financial services and fintech sector, family office, innovation and technology sector, tourism and hospitality sector, and consumer products sector.
  • InvestHK and OASES provide Mainland and overseas enterprises with one-stop customised support services, including introducing tax regime and tax concessions of Hong Kong, assisting enterprises in identifying premises for operations, and assisting them in following up on matters relating to talent admission.
  • Hong Kong's profits tax rate is 8.25% for the first $2 million of profits and 16.5% for profits above that amount.
  • The Government of the Hong Kong Special Administrative Region (HKSAR) has been strategically utilising tax measures to facilitate the development of different industries.
  • The HKSAR Government will continue to make every effort to attract more enterprises and talents from the Mainland and overseas.

Statistics:

  • 539 Mainland and overseas enterprises were assisted by InvestHK in establishing and expanding their businesses in Hong Kong in 2024.
  • The number of companies in Hong Kong with overseas or Mainland parent companies in 2024 reached a record high of 9,960.
  • 223 Mainland and overseas enterprises were assisted by InvestHK from January to April this year.
  • Over $22.3 billion of direct investment is expected to be brought in by the assisted enterprises.
  • Over 4,900 jobs are expected to be created by the assisted enterprises within their first year of operations or expansion.

Sources:

  • Hong Kong Government special administrative region
  • Invest Hong Kong
  • Office for Attracting Strategic Enterprises (OASES)
  • Development Bureau (DEVB)
  • Labour and Welfare Bureau
  • Financial Services and the Treasury Bureau

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