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Travel to Hong Kong reduces serious business problem: AmCham | Wealth

A study conducted by the American Chamber of Commerce in Hong Kong found that 60 percent of respondents see ways to reduce stress significantly.

Hong Kong’s travel budget has become a major problem in doing business in the global economy, a US business survey has found.

In a recent survey by the American Chamber of Commerce in Hong Kong (AmCham) on Wednesday, 60 per cent of those surveyed chose city ordinances and isolating themselves as a major obstacle to their work.

Relations between US-China were particularly strained after the travel ban, with 44 percent of respondents interviewed, followed by the COVID-19 epidemic, legal and regulatory uncertainty, and political uncertainty.

Nearly half of the companies said they had “experienced major disruptions” in offices outside Hong Kong due to restrictions, with about a third of the delay delaying new funding and struggling to meet major responsibilities.

More than a quarter of companies and 44 percent of respondents said the ban led to their departure from the Chinese-dominated city, which is known as a global business following their proximity to China and legal means. from Britain.

Under the strict “zero Covid” regime, the former British government has ordered 21 days of accommodation for almost all hotels arriving and slapping frequently. the temporary ban on flights and countries that appear to be at risk of transmitting the virus. The policy, which was designed to co-operate with China, did not ensure the ease and even growing frustration between migrants and businesses and their going abroad to be infected.

Hong Kong has enacted stringent international privacy laws [File: Tyrone Siu/Reuters]

Amcham’s investigation also showed a lack of confidence in Hong Kong law, following Beijing’s enactment of a national security law that eliminated almost all political opponents and severely restricted journalists and the general public.

About 60 percent of those surveyed said that the law has declined in the last 12 months, and one in four quarters say they are either self-reliant or overconfident in what is going on.

However, more than half reported how businesses in the past year were good, good or bad, while 47 percent reported that the city was still very competitive or highly competitive.

Only 5 per cent of those surveyed said that they had planned to relocate their headquarters to Hong Kong, and 47 percent had no confidence in their relocation.

A staggering 41 percent said they are optimistic or highly optimistic about business performance in the next 12 months, while 29 percent said they want to expand employment over the next two years.

AmCham received feedback from its 262 members on the survey, which took place between September and October last year.

‘Eternal success’

AmCham president Tara Joseph said the room had been proud of its “purpose, honest sales” for more than 50 years.

“Given the challenges that have been encountered over the past few years, it is now more important than ever to maintain a voice in areas that are in line with Hong Kong’s lasting success,” Joseph said.

Joseph said he hoped the study would be “a starting point for negotiations and agreements to make Hong Kong a global business hub.”

“Hong Kong has been restructuring and resuming after the crisis, and hopefully businesses, government and citizens can work together to address the crisis,” he said.




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