Govt strongly opposes US Investment Climate Statements in maliciously smearing HK

The government expressed strong discontent and firm opposition against the United States Department of State's 2025 Investment Climate Statements, as the report contains various biased assertions regarding Hong Kong's business environment.

In a statement released late on Sunday (Sep 28), the spokesman for the SAR government noted that the report continues to maliciously smear and make unfounded and false accusations against the Hong Kong National Security Law and the Safeguarding National Security Ordinance. 

"The implementation of national security laws has restored a safe and stable environment in Hong Kong, not only safeguarding the rights and freedoms of the general public but also making Hong Kong a more attractive and secure destination for international capital and investment," the spokesman reiterated. "Various data clearly demonstrate that Hong Kong's outstanding business environment remains highly appealing to enterprises and investors and capital from around the world."

"The biased and inaccurate claims made in the report are groundless and pale in comparison to the facts," the statement wrote.

It noted that the city's stock market has performed strongly since the beginning of this year, with the Hang Seng Index rising by around 30 percent. Initial public offering fundraising has also surged, placing Hong Kong first globally. 

"Bank deposits have increased by around 8 percent, reaching close to HK$19 trillion. The asset and wealth management industry saw assets under management grow by 13 percent year-on-year to over HK$35 trillion in 2024."

The spokesman continued that Hong Kong shines and rises in various international competitiveness rankings on economic freedom, finance, innovation and technology, education and talent. 

That included Hong Kong being recognised as the world's freest economy, one of the top three global financial centres, ranked third in global competitiveness, and forming the world's leading innovation cluster together with Shenzhen and Guangzhou.

"According to the World Investment Report 2025 published by the United Nations Conference on Trade and Development, Hong Kong attracted US$126 billion in foreign direct investment in 2024, ranking third globally," the statement wrote. "As of last year, nearly 10,000 companies with overseas and Chinese Mainland parent companies had chosen Hong Kong as their base, marking a historic high. Among them, nearly 1,400 were from the US, registering a 9 percent increase year-on-year."

The SAR government also lists that it has successfully brought in over 80 strategic enterprises to set up or expand their operations in Hong Kong, while Invest Hong Kong supported more than 440 enterprises in establishing or expanding their businesses in the city, representing a 14 percent increase compared to the same period last year. 

"These all demonstrate that Hong Kong continues to be an ideal location for enterprises from around the world to set up and grow their businesses."

It also mentioned that in the World Justice Project's Rule of Law Index 2024, Hong Kong maintained a high overall ranking, "ahead of the United States and certain countries that frequently make unfounded criticisms of Hong Kong's rule of law and human rights."