HK govt says 1,600 firms brought in over three years, creating 28,000 jobs
Hong Kong's InvestHK helped 1,600 overseas and mainland firms set up or expand in the city over the past three years, creating 28,000 local jobs, over 20 per cent high-value roles. The government does not track real-time hiring data but says most hires are permanent residents.
HONG KONG – The Hong Kong government said on 4 November that its investment promotion agency, InvestHK, helped more than 1,600 overseas and mainland enterprises set up or expand in the city over the past three years (2024 to September 2026). These firms are expected to bring over HK$200 billion in direct investment and create more than 28,000 local jobs, of which over 20 per cent are management or professional positions such as chief executives, researchers, accountants and operations managers, according to a written reply to a legislative question by lawmaker Lee Kwong-yu.
The government does not maintain comprehensive, real-time data on whether firms meet their original hiring plans, as recruitment is left to the companies' operational needs. However, InvestHK systematically follows up with settled clients to understand their latest operations, including recruitment progress and expansion plans. The government noted that most of the hires are Hong Kong permanent residents.
InvestHK is working toward a performance target set in the 2025 Policy Address: to attract at least 1,200 overseas or mainland firms to set up or expand in Hong Kong in 2026 and 2027, bringing at least HK$120 billion in direct investment and creating at least 12,000 jobs. In the first nine months of 2026, the agency had already assisted about 550 firms.
The firms assisted over the past three years come mainly from innovation and technology, financial services and fintech, family offices, and tourism and hospitality. The number of foreign and mainland firms with a presence in Hong Kong reached 11,070 in 2025, up about 11 per cent year-on-year, a record high, according to InvestHK and the Census and Statistics Department. These firms employed 509,000 people, up about 3 per cent, and included more than 1,500 regional headquarters, up about 7 per cent.
The government said the arrival of these firms boosts retail, dining, transport, and residential and commercial property markets. Of the 560 projects completed by InvestHK in 2025, about 120, or 21 per cent, were in retail, dining, e-commerce and trade, up more than 20 per cent from the previous year.
The government does not have data on tax revenue from individual firms, as corporate tax assessments are not publicly available except for listed companies. On incentives, the government said the Steering Committee on Attracting Industries and Investment, led by the Financial Secretary, will consider factors such as resource commitment, economic benefits and development potential before granting customised incentive packages, including land grants, financial subsidies and tax breaks. For key industries such as finance, advanced manufacturing, innovation R&D, headquarters activities, logistics and supply chain management, the government plans to offer a 5 per cent or half-tax rate. A bill to amend relevant legislation will be submitted to the Legislative Council by the end of 2026.
When granting incentives, authorities may impose conditions requiring firms to bring new technology to Hong Kong or make specified investments, the government said.
