American Businesspeople Cast Their Votes for Hong Kong — With Their Feet

In today's America, there's a yawning gap between what politicians say and what businesspeople actually do. US political circles remain thick with doom-and-gloom talk about Hong Kong. Many still cling to the narrative that "Hong Kong is dead." But look at what American companies are actually doing on the ground, and you'll see the story politicians tell bears little resemblance to reality.

The American Chamber of Commerce in Hong Kong ran a survey from November through January, polling senior representatives from 450 US corporate members about Hong Kong's business prospects. With a 25% response rate, the findings carry real weight.

Optimism Surges 20 Points

According to the AmCham survey, 53% of American companies now feel "very optimistic" or "optimistic" about Hong Kong's business environment over the next 12 months—a dramatic 20-percentage-point leap year-on-year.

The assessment of the past year's business climate is an even more striking reversal. In 2024, 37% of US firms rated Hong Kong's operating environment "very good" or "good," while 42% judged it "not very good" or "poor"—a net negative of 5%.

Fast-forward one year. The share of US businesses rating last year's environment "very good" or "good" climbed 7 points to 44%. Those calling it "not very good" or "poor" plunged 15 points to 27%. That's a complete turnaround: a net positive of 17 percentage points. American businesses have fundamentally reversed their view of Hong Kong's operating climate.

Staying Put — and Confident

When it comes to future plans, US companies with no intention of relocating their headquarters over the next three years surged 13 percentage points to 92%. As for Hong Kong's rule of law—relentlessly attacked by the US government—94% of respondents expressed being "very confident," "confident," or "relatively confident," up from 83% a year earlier and 79% the year before. Only 6% reported insufficient confidence, an 11-point drop from the prior year.

On the more sensitive question of the National Security Law and its impact on their business environment, 74% said they experienced no negative effect. Only 26% reported adverse impacts—and even that negative share dropped 4 percentage points from the previous year.

Overall, the AmCham survey paints a strikingly positive picture. Most respondents not only shrug off concerns about the National Security Law's impact on the local business climate—they're downright optimistic about Hong Kong's future operating environment.

Remember what happened over a year ago when Hong Kong filmed a tourism promotional video featuring AmCham members? The member who participated in the film faced trouble the moment he returned to the United States. The video was entirely non-political, purely about tourism. Yet anti-China lawmakers summoned the AmCham member for Congressional questioning, creating a firestorm of hassle. That's American freedom of speech in action. In anonymous surveys, American businesspeople tend to speak far more honestly.

The key takeaway? American businesspeople are casting their votes for Hong Kong with their feet—staying put, continuing to invest, and betting on Hong Kong's future prospects.

Saying No, Acting Yes

Western forces led by the United States have recently seized on Hong Kong's national security cases to relentlessly attack the "One Country, Two Systems" framework. But they're "saying no to Hong Kong with their mouths while being brutally honest with their bodies"—some badmouth Hong Kong while others quietly invest and rake in profits there.

Meanwhile, the Central Government consistently implements its One Country, Two Systems policy toward Hong Kong. On one hand, it backs Hong Kong's enforcement of the National Security Law, creating a peaceful and stable business environment and curbing political unrest. On the other hand, Hong Kong maintains its rule of law traditions, allowing foreign investors to do business confidently without fear of unfair treatment.

Looking back at Hong Kong's economic data from last year, the performance was genuinely impressive. Hong Kong's GDP expanded 3.5%. External merchandise trade jumped 15.4% to a record HK$5.24 trillion. Visitor arrivals hit 49.9 million, up 12% year-on-year. The Hang Seng Index climbed 27.8%. And Hong Kong's IPO scale tripled year-on-year, claiming the top spot among global exchanges.

Hong Kong's free economic system and vibrant economic activities are drawing increasing numbers of foreign companies—including American firms. In 2025, the number of foreign-funded companies with offices in Hong Kong reached 11,070, up 11% year-on-year, setting a historic record. The evidence is clear: Hong Kong remains a magnet for foreign investment and an exceptional place for free enterprise.

Lo Wing-hung

Bastille Commentary

** The blog article is the sole responsibility of the author and does not represent the position of our company. **

America's double standards sometimes reach a truly appalling level. The US constantly presents itself as the world's defender of human rights — yet when the bodies pile up, human lives don’t seem to count.

On February 28 — the first day of joint US-Israel strikes on Iran — a girls' elementary school in Minab, in southern Iran, was hit. Local officials reported at least 175 deaths. More than 160 of the dead were female pupils.

Washington's first move was to dodge responsibility entirely. Trump suggested the school had been struck by inaccurate Iranian munitions. On March 7, aboard Air Force One, he told reporters: "In my opinion, based on what I've seen, that was done by Iran."

As the controversy grew, Trump changed his tune and claimed ignorance. Then Iran released images of missile debris recovered from the scene — clearly showing a US-made Tomahawk cruise missile, with the words "Made in USA" visibly inscribed on it.

Evidence Written on the Missile

Trump still dug in on March 9. At a press conference in Miami, asked directly whether it was a Tomahawk cruise missile that struck the girls' school, he insisted: "A Tomahawk is very generic. It's sold to other countries. Iran has some Tomahawks, and they want more. But whether it's Iran or somebody else, a Tomahawk is very commonly used." He added that the matter was under investigation.

Those claims were clearly baseless. Neither Iran nor Israel possesses Tomahawk missiles — the United States is effectively the sole operator. Tomahawk exports are strictly controlled; aside from the US, reportedly only Australia and the United Kingdom field these missiles, and there is absolutely no possibility either would sell them to Iran.

In the end, The New York Times — citing a preliminary US military investigation — reported that the girls' school was indeed struck by US forces. Military intelligence personnel had relied on outdated targeting data, mistaking the school for an Islamic Revolutionary Guard Corps facility. Tomahawk cruise missiles finished the job, causing devastating casualties.

What makes it worse: the US military carried out a double-tap strike. A second attack arrived just minutes after the first hit on the school — a tactic classically associated with killing first responders. With the evidence overwhelming and the truth impossible to conceal, the US appears to have pre-emptively leaked the findings, acknowledging responsibility in hopes of containing the fallout.

A Front Page the World Won't Forget

The damage is done regardless. Striking an elementary school with cruise missiles has outraged people around the world. Iran's English-language newspaper, the Tehran Times, ran portraits of the more than 160 dead schoolgirls across its entire front page, under the headline: "Trump, Look Them in the Eyes."

Whether intentional or the result of faulty intelligence, this attack may well constitute a war crime under the Rome Statute of the International Criminal Court. Article 8 of the Rome Statute lays out the key conditions clearly.

I. Existence of Armed Conflict

There must be an international armed conflict, and the act must be closely related to that conflict. Ordinary domestic disturbances do not qualify.

II. Victims Must Be Protected Persons

The targets must not be persons directly participating in hostilities — such as civilians, the wounded, and prisoners of war. Protected civilian property, including hospitals and schools, falls under the same prohibition.

III. Serious Violation of International Law

The act must constitute a grave breach of international humanitarian law. It must also have been criminalised under treaty or customary law.

The United States launched a war without UN authorisation — a serious violation of international law — and then missile-struck children who should be protected under the laws of armed conflict. That conduct is potentially criminal as a war crime. Washington readily intervenes in the affairs of other nations for all manner of reasons, yet brushes its own crimes aside with barely a word.

Make no mistake: no US military personnel will be held accountable for this massacre of Iranian schoolchildren. Not the intelligence officers who gathered the faulty data. Not the heads of the relevant intelligence agencies. Not the generals who ordered strikes in that area. Not the Secretary of Defense. Not the President himself. 

This episode carries a pointed message for Hong Kong. When those who have fled abroad continue to eagerly seek meetings with senior US government officials, urging them to keep sanctioning Hong Kong officials or demanding the release of Jimmy Lai, they would do well to remember: these American officials have blood on their hands. They start wars against other countries without justification.

Lo Wing-hung