The number of American companies with regional headquarters in Hong Kong has fallen an 18-year low, bolstering arguments that the city’s national security campaign and Covid Zero strategy are eroding its appeal as a global financial center.
There were 254 American companies with regional hubs in Hong Kong as of June 1, compared with 282 a year earlier, according to new data from the Census and Statistics Department. That marked a 10% drop from the previous year, and the lowest number since 2003, when there were 242 American companies based in the city.