US business leaders bullish about Hong Kong’s future despite concerns over erosion of city’s freedoms under Chinese rule

More than half of those surveyed believe business environment in the city is improving, while Greater Bay Area gives plenty of reason to be confident in years ahead

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The AmCham survey found a high level of confidence about the city’s future among US companies. Photo: K.Y. Cheng

Published: 7:30am, 31 May 2018Updated: 10:38am, 31 May 2018

Most US companies in Hong Kong believe there has been an erosion of the city’s “one country, two systems” form of government, a survey by one of the city’s largest business chambers revealed on Wednesday.

However, while there was also a feeling that the rule of law had been eroded, 70 per cent of US corporate leaders backed the city’s position as a global financial hub, and 56 per cent believed the business environment was improving.

According to the American Chamber of Commerce in Hong Kong (AmCham), the survey found a bullish feeling among those questioned, with confidence stemming from the development of the city, Macau and nine other cities in Guangdong into an IT powerhouse called the Greater Bay Area.

Tara Joseph said views on the future of one country, two systems are mixed. Photo: Jonathan Wong

“Although the views on the topic of one country, two systems are mixed, the majority are worried about the situation,” said Tara Joseph, president of AmCham Hong Kong.

Although the views on the topic of one country, two systems are mixed, the majority are worried about the situation

Tara Joseph, president of AmCham Hong Kong

The survey came amid an escalating tussle on Sino-US trade, with Washington and Beijing taking tit-for-tat actions on trade restrictions for each other.

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