In the past few years, geopolitically driven negative publicity surrounding Hong Kong has sent ripples of unease throughout the business community. Decision-making in the business world is affected by a Western-dominated public discourse mired in prejudice and plagued by misinformation, disinformation and information gaps.
In order to help local and overseas business leaders step out of the distorted propaganda mist, the Hong Kong Special Administrative Region government has recently released a 102-page report, “Unique Strengths Under ‘One Country, Two Systems’”, on the city’s unique strengths. The government deserves praise for reclaiming lost ground in the “Hong Kong narrative” and offering a comprehensive and accurate portrayal of the city, showcasing its unique strengths under the “one country, two systems” framework.
The report noted that business communities around the world are actively seeking external opportunities, leading to a reallocation of global capital. Hong Kong is well-positioned to help countries diversify risks and attract capital, enterprises and talent. Amid ongoing global political and economic instability, and the rise of unilateralism and protectionism, Hong Kong’s core competitiveness remains solid, with new advantages steadily emerging.
Unlike Ananias, the authors of the report are truth curators. They rely on concrete facts to highlight the unique strengths of Hong Kong, which have created a confluence of tailwinds to boost business confidence. The following facts speak for themselves: In 2024, there were 9,960 companies in Hong Kong with parent companies located outside the city, a year-on-year increase of about 10 percent. From January 2023 to June 2025, Invest Hong Kong assisted over 1,300 overseas and Chinese mainland companies to set up or expand their respective businesses in the city, bringing in external investment of more than HK$160 billion ($20.46 billion). Meanwhile, around 2,700 single-family offices are operating in the city.
Being an international financial center, Hong Kong has a strong competitive edge in various kinds of financial services, and its climb back toward the top of the global IPO ladder has affirmed the attractiveness of its financial sector. As of the end of 2024, the asset and wealth management business in the city amounted to about HK$35.1 trillion. Various positive factors, such as the vast opportunities in the Guangdong-Hong Kong-Macao Greater Bay Area, the New Capital Investment Entrant Scheme and government policies to attract more family offices, have helped create more demand for investment and financial services in the city.
Technologically, Hong Kong is leading the way to a bright future as an international innovation and technology (I&T) center. The Hong Kong Innovation and Technology Development Blueprint formulates clear road maps and strategic plans for the city’s I&T development, and the business sector is welcome to participate in and contribute to the process. It is also worth noting that Hong Kong has a robust intellectual property (IP) protection regime and a pool of experts familiar with the IP systems of different countries. Another confidence-boosting factor is that the city possesses robust capabilities in scientific research. It is the only city across the globe with five world top-100 universities. The city also houses 15 State Key Laboratories and boasts 22 joint laboratories with the Chinese Academy of Sciences.
Foreign business chambers in Hong Kong remain confident about the city’s prospects. As the report noted, 75 percent of member businesses surveyed by the American Chamber of Commerce in Hong Kong said they believe that the city is the most competitive international business hub in Asia, while 79 percent have no intention of relocating their headquarters. Gan Khai Choon, head of the Malaysian Chamber of Commerce (Hong Kong and Macao), told local media that investment from Malaysia and other Asian jurisdictions would continue to flow into Hong Kong. All of these attest to the attractiveness of Hong Kong’s business environment, amid heightened geopolitical rivalries in the region, which stems from its robust legal and financial systems, simple tax regime, level playing field, convenient and efficient external connection, and first-class financial and business services with high-caliber talent.
The list of Hong Kong’s strengths cannot be complete without mentioning the indispensable role played by national security legislation in restoring social and political stability in the city. What is getting harder to ignore is that stability is the prerequisite for economic development.
The ability to create an extraordinarily favorable business environment in the city owes much to the central government’s strong support under the “one country, two systems” framework. The distinctive advantages created by the “two systems” factor allows Hong Kong to outperform competitors in the region and distinguish itself from other mainland cities, while the “one country” factor enables it to capitalize on opportunities arising from national development and economic integration with the Greater Bay Area. With firm support from the central government, Hong Kong is able to play the gainful roles of a superconnector and a super value-adder. Recently, the top officials of the HKSAR government have been active in visiting various countries and regions to step up external promotion of the city’s strengths and opportunities. Few would disagree that Hong Kong is a crucial conduit for Chinese mainland companies to thrive in international markets.
The report is not only a good reference for businessmen and investors to gauge Hong Kong’s strengths and its economic resilience; it also reminds the critics that they are not objective enough to see the true shape of the city’s economy. The economic pendulum will soon swing in the preferred direction because the government has successfully made the economic cake bigger, ensuring that opportunities outnumber risks. Hopefully, the “trickle-down” effect will soon bring economic benefits to all residents.
Finally, we would like to point out that the authorities are determined to safeguard the long-term prosperity and stability of Hong Kong. We are very confident that the current administration will be able to navigate the twists and turns brought about by geopolitical rivalries and make the city a safe haven for the business community. A just cause deserves full support.
Yin Zihan is a co-leader of the Rainbow Pair Mentorship Program launched and administered by Chinese Dream Think Tank.
Kacee Ting Wong is a barrister, a part-time researcher at Hong Kong and Macao Basic Law Research Center of Shenzhen University, chairman of Chinese Dream Think Tank, and a district councilor.
The views do not necessarily reflect those of China Daily.
