213 overseas and Mainland Chinese firms flocked to Hong Kong in 1H

330 investment projects targeted this year.

In a report, Invest Hong Kong said a record of 213 overseas and Mainland Chinese companies have been set up or expanded in Hong Kong in the first half of this year.

Invest Hong Kong's Investment Promotion Director-General Simon Galpin finds the interim results encouraging, and the department is optimistic it will meet the annual target of 330 projects this year as several markets show good growth.

“Our pipeline of prospects is strong, in particular from companies in Mainland China and the US which have signalled their intent to set up or expand in Hong Kong,” he said.

The department will this month roll out a global marketing programme, called startmeup.hk, to encourage entrepreneur-led businesses to consider Hong Kong as the platform from which they can expand globally.

The 213 companies are from 33 countries. The Mainland was the largest source of investment with 51 completed projects, followed by Japan with 26, the US and UK with 24 projects each, and France with 13.

For the first time, the department helped a Greek company to set up a business here, serving fast food.

Altogether, the companies planned to employ 1,576 people in Hong Kong in their first year of set up or expansion.

Asia was the largest market source with 89 projects completed compared to 73 a year ago, followed by Europe and North America.

The companies span a range of businesses, including asset management, digital marketing, medical and healthcare, and restaurant and wine-related businesses.