HK Business Environment Is Slipping, Finds Poll

A number of American companies feel that Hong Kong’s business environment is deteriorating or stagnating.

In a survey of members, the American Chamber of Commerce in Hong Kong found that a quarter believe the city is slipping, while around half think it is not moving forward.

AmCham’s president Tara Joseph said more than 200 corporate and individual members were questioned for the survey.

She said one of the worries is that Hong Kong is not moving fast enough on technology related projects, like the smart city project.

Competition from other Asian financial centres is another concern, she said. The members feel that Hong Kong has to be more aggressive in luring in businesses, Joseph said.

The chairman of AmCham, Jack Lange, said it's unfortunate that a trade spat between the United States and China is continuing. But he said tariff hikes were not an impulsive decision by US President Donald Trump.

He said there’s a consensus in the US that Washington should “reset” how it deals with China on trade and investment issues, as Beijing keeps applying policies that are unfair to its foreign competitors.