National security law: majority of American Chamber of Commerce firms in Hong Kong to remain in city despite concerns over Beijing legislation, survey finds

Seventy per cent of the 180 firms polled by the influential US business group say they have no plans to move capital, assets or operations outside the city

The 30 per cent planning to move at least some of their business elsewhere are eyeing London, Singapore, Taipei and the US as potential destinations

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The firms responding to the poll represent 15 per cent of Amcham’s members and were mostly American companies, while a third represented businesses from other countries and Hong Kong. Photo: Roy Issa

Published: 9:23pm, 3 Jun 2020Updated: 11:58pm, 3 Jun 2020

Most companies under the umbrella of an influential American business group in Hong Kong will remain in the city despite their concerns over a new national security law to be passed by Beijing, according to a poll.

Seventy per cent of the 180 firms surveyed by the American Chamber of Commerce in Hong Kong (AmCham) said they had no plans to move capital, assets or operations outside the city.

But 30 per cent were planning to relocate in some capacity, and were eyeing the United States, London, Singapore and Taipei as potential destinations.

The firms responding to the poll, conducted on June 1-2, represent 15 per cent of Amcham’s members and were mostly American companies, while a third represented businesses from other countries and Hong Kong.

On a personal basis, 62 per cent of the people who responded were not planning to leave Hong Kong, compared with more than 37 per cent who said they were.