Startups In HK Reach Record High

(To watch the full press conference with sign language interpretation, click here.)

Secretary for Commerce & Economic Development Edward Yau today said the number of foreign and Mainland companies and startups in Hong Kong has reached a record high which shows the city is still an attractive place to do business.

At a press conference on the 2021 Policy Address initiatives, Mr Yau said according to the latest results of annual surveys, the number of business operations in Hong Kong with parent companies overseas or in the Mainland has risen 10% to 9,049 from 2017.

The number of startups in Hong Kong increased 68.5% to 3,755 during the same period.

“Despite all the challenges, I think the figures (give confidence to) Hong Kong that it is still a very attractive place for them to operate (in) the region.”

Meanwhile, the Policy Address proposed to further extend the validity of the Convention & Exhibition Industry Subsidy Scheme to the end of next year and provide timely and more targeted assistance to the industry.

Private organisers of exhibitions which were held at the Convention & Exhibition Centre or AsiaWorld-Expo in at least any five calendar years from 2015 may apply for the one-off immediate relief measure from the Government.

The amount of the immediate relief will be equivalent to 20% of the average annual rental of the relevant exhibitions, subject to a cap of $1 million per event.

Click here for application details.