Nearly 70 percent of overseas enterprises indicated intentions to expand their footprint in the Greater Bay Area in the next three years and Hong Kong remained the most popular destination, a HSBC survey found.
In particular, respondents from the Regional Comprehensive Economic Partnership are more optimistic about Bay economic prospects, with around 60 percent believing its growth will exceed China's national level in the next three years, 15 percentage points higher than those from the non-RCEP countries.
Technology and innovation (45 percent) ranked first among investment priorities, followed by enhancing the reliability of the supply chain (39 percent) and upgrading digital infrastructure (39 percent).
The poll took in 3,400 enterprises in 16 markets, including South Korea and Japan, with respondents operating in or eyeing entry into the Chinese market.
Separately, BOC Hong Kong (2388) forecasts the SAR economy will grow 2.8 percent and the jobless rate drop to 3.1 percent this year, driven by tourism and consumption recoveries.
The US interest rates may be raised twice and peak in the first half but the local prime rates might not decline even if the rate-hike cycle ends this or next year, the lender projects.
This came as PwC's annual Global CEO Survey showed nearly three quarters of chief executives believe global growth will decline over the next 12 months.
Inflation, macroeconomic volatility, and geopolitical conflict were regarded as the top threats and nearly 40 percent thought their organizations would not be viable in a decade if they continued on their current path. The poll took in 4,410 CEOs in 105 countries and territories in October and November.
