Invest Hong Kong reaches record high numbers in 2024 in foreign direct investment, reinforcing city's status as leading business hub
Invest Hong Kong (InvestHK) today (January 20) announced that the department achieved a record-breaking year for foreign direct investment (FDI) in 2024, assisting 539 overseas and Mainland companies to set up or expand their business in Hong Kong. This represents a 41 per cent increase compared to 2023, reflecting the strong appeal of Hong Kong as a leading business hub in the region.
The strong FDI performance was driven by investment across diverse and high-value industries. It is estimated that the total investment thereby brought to Hong Kong's economy has reached over HK$67.7 billion, which also represents a record high and a nearly 10 per cent increase compared to 2023. These companies expected to create 6 864 job opportunities in Hong Kong during their first year of operation, an over 67 per cent increase compared to 2023.
The top five locations of origin among the companies assisted span markets in the United States, Europe and Asia.
| Location of origin | Number |
| The Mainland | 273 |
| United States | 52 |
| France | 24 |
| The United Kingdom | 24 |
| Singapore | 23 |
Among the companies assisted, the top five sectors were as follows:
| Sectors | Number |
| Innovation and technology | 120 |
| Financial services and fintech | 110 |
| Family offices | 95 |
| Tourism and hospitality | 58 |
| Business and professional services | 47 |
The Director-General of Investment Promotion, Ms Alpha Lau, said that the results in 2024 reflect overseas and Mainland enterprises having full confidence in Hong Kong, selecting the city as their base to expand regional businesses in Asia to capture the unique opportunities brought by Hong Kong as a "super connector" and a "super value-adder".
In addition, the New Capital Investment Entrant Scheme (New CIES), of which InvestHK is responsible for its financial requirements assessment, received more than 800 applications by the end of 2024 since its launch last March which will bring in around HK$24 billion in investments to the city. With enhancements to the scheme to be effective in March this year, this number is expected to further increase.
Ms Lau said, "We are proud of the department's outstanding performance in 2024. The number of companies we assisted and the amount of direct investment they brought to Hong Kong both hit record highs despite a complex and ever-changing global economic environment. It demonstrates Hong Kong's resilience and adaptability and businesses' strong confidence in the city as the preferred base to expand in the region. In 2025, we will encourage companies to expand their operations in Hong Kong beyond sales and services, covering areas such as research and development, treasury management, procurement and supply chains, regional management headquarters, listing or financing, etc.
"Looking ahead, we are committed to enhancing quality and creating new opportunities. We will prioritise attracting businesses that can generate substantial economic benefits and quality investments for Hong Kong. We will strategically introduce emerging industries from traditional markets, supporting Hong Kong's development in new competitive sectors like cultural and creative industries, and technology. And we will explore emerging markets and strengthen our promotional efforts in places along the Belt and Road, especially the Association of Southeast Asian Nations economies and Eastern Europe, to assist local companies to expand their regional operations via Hong Kong," she concluded.
InvestHK's annual report 2024 is available on the department's website here: www.investhk.gov.hk/en/resource-centre/?tab=&type=Annual%20Report.
Invest Hong Kong reaches record high numbers in 2024 in foreign direct investment, reinforcing city's status as leading business hub Source: HKSAR Government Press Releases
CE attends opening ceremony of Huanggang Port
The redeveloped Huanggang Port will open at 6.30am tomorrow (October 12). The Chief Executive, Mr John Lee, officiated at the opening ceremony at the Mainland Port Area of the Huanggang Port today (October 11) alongside the Director of the Standing Committee of the Guangdong Provincial People's Congress, Mr Huang Chuping; the Standing Committee Member of the CPC Guangdong Provincial Committee and the Secretary of the CPC Shenzhen Municipal Committee, Mr Jin Lei; the Deputy Secretary of the CPC Shenzhen Municipal Committee and Mayor of the Shenzhen Municipal Government, Mr Li Yun; Deputy Director of the Liaison Office of the Central People's Government in the Hong Kong Special Administrative Region (HKSAR) Mr Luo Yonggang; the Director General of the Guangdong Sub-Administration of the General Administration of Customs of the People's Republic of China, Ms Zhang Geping; the Director of Bureau III of the Hong Kong and Macao Work Office of the Communist Party of China Central Committee and the Hong Kong and Macao Affairs Office of the State Council, Mr Zou Jinsong; and the Deputy Director of the Department of Border Security Check of the National Immigration Administration, Ms Mo Haiying.
The National 15th Five-Year Plan proposed consolidating and enhancing the role of the Guangdong-Hong Kong-Macao Greater Bay Area as an engine for high-quality development, as well as strengthening regional infrastructure connectivity. The redevelopment of the Huanggang Port signifies the proactive alignment of the HKSAR Government with national development strategies, representing a key project through which Hong Kong actively integrates into and serves the overall national development. The Hong Kong's First Five-Year Plan announced by the HKSAR Government last month explicitly set out to leverage the strengths of the redeveloped Huanggang Port, implement the co-location arrangement, and adopt the novel "collaborative inspection and joint clearance" mode. The official opening of the Huanggang Port signifies a major milestone achieved by Hong Kong and Shenzhen in enhancing the layout of boundary control points, and improving clearance efficiency, and facilitating cross-boundary flow of people.
Speaking at the ceremony, Mr Lee said that the Huanggang Port redevelopment project is a landmark undertaking built upon the close partnership and concerted efforts between Hong Kong and Shenzhen for joint contribution and shared benefits. The official opening of the redeveloped port reflects that connectivity within the Greater Bay Area has reached a new height, serving as a faithful demonstration promoting "hard connectivity" in infrastructure, fostering "soft connectivity" of rules and mechanisms, and achieving "connectivity of hearts" between the residents of the Mainland and Hong Kong.
The redeveloped Huanggang Port is positioned as the most important 24-hour passenger land boundary control point between Hong Kong and Shenzhen. The design flow of the redeveloped Huanggang Port is 200 000 passenger trips per day, and could be further increased to about 300 000 upon the future commissioning of the Northern Link Spur Line of the MTR Corporation Limited. With the staunch support of the Central Authorities, the Huanggang Port implements the co-location arrangement with clearly delineated Hong Kong Port Area and Mainland Port Area. The Huanggang Port is also the first land boundary control point between Hong Kong and Shenzhen adopting the "collaborative inspection and joint clearance" mode, further enhancing passenger clearance experience and efficiency. Under this new clearance mode, clearance time will be significantly reduced from around 30 minutes at the original Lok Ma Chau/Huanggang Port, to approximately five minutes.
The 23rd Meeting of the 14th Standing Committee of the National People's Congress (NPCSC) passed the decision to authorise the HKSAR to exercise jurisdiction over the Huanggang Port Hong Kong Port Area and Related Extended Areas (Hong Kong Port Area) on June 26 this year. Subsequently, the State Council issued an Official Reply on July 8, stipulating the specific co-ordinates and area of the Hong Kong Port Area, and agreeing that the Hong Kong Port Area is to be commissioned beginning at 00.00 hours of July 31, 2026, and is to be subject to the jurisdiction of the HKSAR in accordance with the laws of the HKSAR. The Huanggang Port Hong Kong Port Area Ordinance (Cap. 659), together with the relevant subsidiary legislation, came into operation on July 31.
Since the establishment of the Huanggang Port Hong Kong Port Area on July 31, the HKSAR Government has been pressing ahead at full steam with the various preparatory tasks for the opening of the port, including conducting drills and tests of various scales, as well as continuously enhancing detailed arrangements to prepare comprehensively for the opening of the port. Having confirmed that the port is ready for safe, smooth and efficient operation, Hong Kong and Shenzhen issued a joint statement on October 9, announcing that the redeveloped Huanggang Port will officially open at 6.30am of October 12, 2026, providing 24-hour clearance services for passengers and passenger vehicles.
Officials of the HKSAR Government attending the ceremony included the Chief Secretary for Administration, Mr Chan Kwok-ki; the Financial Secretary, Mr Paul Chan; the Secretary for Justice, Mr Paul Lam, SC; the Secretary for Security, Mr Tang Ping-keung; the Secretary for Health, Professor Lo Chung-mau; the Secretary for Development, Ms Bernadette Linn; the Secretary for Transport and Logistics, Ms Mable Chan; the Secretary for Constitutional and Mainland Affairs, Miss Janice Tse; the Commissioner of Police, Mr Chow Yat-ming; the Director of Immigration, Mr Benson Kwok; the Commissioner of Customs and Excise, Mr Chan Tsz-tat; and the Director of the Chief Executive's Office, Ms Carol Yip.
The Chief Executive, Mr John Lee, attended the Opening Ceremony of Huanggang Port today (October 11). Photo shows Mr Lee (sixth left) and guests officiating at the ceremony. Source: HKSAR Government Press Releases
The Chief Executive, Mr John Lee, inspected the Huanggang Port Building Hong Kong Port Area today (October 11). Photo shows Mr Lee (third right) inspecting the departure hall. Source: HKSAR Government Press Releases
The Chief Executive, Mr John Lee, inspected the Huanggang Port Building Hong Kong Port Area today (October 11). Photo shows Mr Lee (front row, fourth right) inspecting the departure hall. Source: HKSAR Government Press Releases
The Chief Executive, Mr John Lee, inspected the Huanggang Port Building Hong Kong Port Area today (October 11). Photo shows Mr Lee (front row, centre) inspecting L2 Hall. Source: HKSAR Government Press Releases
The Chief Executive, Mr John Lee, inspected the Huanggang Port Building Hong Kong Port Area today (October 11). Photo shows Mr Lee (second right) inspecting the "joint one-stop" vehicle lane level. Source: HKSAR Government Press Releases
The Chief Executive, Mr John Lee, inspected the Huanggang Port Building Hong Kong Port Area today (October 11). Accompanied by (from left) the Secretary for Security, Mr Tang Ping-keung; the Secretary for Justice, Mr Paul Lam, SC; the Financial Secretary, Mr Paul Chan; and the Chief Secretary for Administration, Mr Chan Kwok-ki, Mr Lee (fourth right) inspected the "joint one-stop" vehicle lane level. Source: HKSAR Government Press Releases
