Mainland Chinese Firms Outnumber US Ones in HK for First Time
- US firms with regional hubs in HK fall to lowest since 2002
- City has struggled to regain its financial hub status
Mainland Chinese firms accounted for 18% of the city’s regional headquarters, compared to 17% by American companies.
Photographer: Paul Yeung/BloombergThis article is for subscribers only.
The number of American companies with regional headquarters in Hong Kong has dropped below mainland Chinese firms for the first time in at least 31 years.
There were 240 US companies with regional hubs in the city as of June 1, down 14 from the previous year and the lowest number since 2002, according to data released by the Census and Statistics Department dating back to 1991. Mainland Chinese firms with regional headquarters in Hong Kong fell by one to 251, the data show.