Hong Kong’s Business Landscape Reaches New Heights in 2024!

The number of startups and companies in Hong Kong SAR with overseas or Mainland China parent companies has reached record highs this year, highlighting the region’s growing appeal for business expansion, according to recent surveys.

Key Findings:
Increase in Companies with Overseas or Mainland China Parent Companies
The 2024 Annual Survey of Companies in Hong Kong with Parent Companies Located outside Hong Kong, conducted by Invest Hong Kong (InvestHK) and the Census and Statistics Department, revealed that in 2024 there were 9,960 such companies—a 10% rise from the previous year.
These companies employed 493,000 people, reflecting a 5% increase year-over-year.
Parent Company Origins
– Mainland China: 2,620 companies
– Japan: 1,430 companies
– United States: 1,390 companies
– United Kingdom: 720 companies
– Singapore: 520 companies

Industry Breakdown
– Import/export trade, wholesale, and retail: 4,730 companies
– Financing and banking: 2,020 companies
– Professional, business, and education services: 1,530 companies
Startup Ecosystem Growth
The 2024 Startup Survey by InvestHK revealed that the number of startups in Hong Kong reached 4,694—a 10% increase from last year.
Startups employed 17,651 people, a 7% increase year-over-year.
Sector Highlights
– Rapid growth in health and medical startups: 54% surge
– Significant growth in sustainable/green technology startups: 82% year-over-year increase
– Other active sectors: Financial technology, information technology, e-commerce, education, and data analytics.

This record-breaking growth across traditional and emerging industries reinforces Hong Kong’s strategic role as a hub for regional and international business operations.