The National Security Law for Hong Kong, in effect for nearly five years, has neither hindered nor raised concerns among United States and European companies operating in the city, whose investment funds remain actively involved in Hong Kong financial markets.

These findings come from a survey conducted early this year by the American Chamber of Commerce in Hong Kong, which showed that up to 80 percent of the chamber’s members polled are optimistic about Hong Kong’s prospects and plan to maintain or increase their investments in the city.

Another survey by the Hong Kong Japanese Chamber of Commerce and Industry revealed that over 60 percent of Japanese companies felt their operations had not been affected, and that they will continue to invest and do business in the SAR.

READ MORE: Xia hails NSL as ‘guardian of city’, urges vigilance against threats

A separate poll conducted by the Hong Kong SAR government indicated that the number of US and European firms in Hong Kong increased by about 10 percent last year.

The findings coincide with the fifth anniversary of the NSL’s promulgation and implementation.

Inaki Amate, who chairs the European Chamber of Commerce in Hong Kong, told China Daily the chamber has not observed any negative changes in Hong Kong’s overall business environment that were related to the NSL since it was enacted on June 30, 2020.

Amate emphasized that the legislation is not a concern for the 16 European chamber members when considering whether to expand in the city.

The Office for Attracting Strategic Enterprises — the SAR government agency responsible for bringing high-potential and strategic enterprises to Hong Kong — has, to date, lured more than 80 such companies to the city, generating a total investment of HK$50 billion ($6.4 billion) and creating 20,000 jobs.

InvestHK, the city’s investment promotion agency, has also attracted over 1,400 companies, with investments of more than HK$100 billion and 20,000 jobs created.

Financial Secretary Paul Chan Mo-po said that following the NSL’s enactment, Hong Kong’s business environment, as perceived by foreign businesses, has improved. Sound law and order, as well as security, boosts confidence and makes it easier to do business in the city.

Long-term funds from Europe and the US remain highly active. Recent months have seen increased inflows of European and US investment into Hong Kong’s stock market.

ALSO READ: Celebrating 5 years of NSL

For instance, in May, when Chinese mainland battery maker, Contemporary Amperex Technology Company, listed in Hong Kong, European and US funds were among its major share subscribers, demonstrating the global interest in the city’s financial market.

Hong Kong’s business environment has been improving since the enactment of the NSL, and its attractiveness as a business, financial investment and fundraising destination is very promising, Chan said.

Companies from the Middle East and Southeast Asia have also expressed strong interest in investing and establishing operations in Hong Kong, he added.

Contact the writer at oswald@chinadailyhk.com