As many as 63 percent of respondents felt positive or very positive about the outlook for Hong Kong businesses over the next 12 to 18 months, a survey by DBS Bank (Hong Kong) showed.
The survey also shows that Hong Kong businesses are strengthening competitiveness by balancing innovation with operational discipline.
Over the next three to five years, 53 percent of respondents identified product or service innovation as a top strategic priority, followed by cost optimisation and efficiency (46 percent) and customer experience enhancement (31 percent).
With over 60 percent of businesses expressing optimism about the outlook, Hong Kong’s corporate sector is approaching the future with a constructive mindset, prioritising innovation and customer experience, said Boris Chan, DBS Hong Kong's managing director and head of institutional banking group.
Almost half of the respondents considered tax incentives and financial support as the most effective measures to stimulate corporate investment and growth. This was followed by promoting cross-border trade and investment (40 percent), support for innovation and technology development (35 percent), and streamlined regulatory processes and approvals (32 percent).
Across all respondents, financial incentives were the leading measure to encourage more active participation in the Northern Metropolis, cited by 36 percent. This was followed by measures to facilitate cross-border resource flows (28 percent) and clearer long-term plans and policies (22 percent).
The survey conducted between August and September gathered responses from 250 Hong Kong-based business owners and senior decision-makers across small and medium-sized enterprises and large and mid-sized companies in Hong Kong.
