According to a recent survey, the business conditions in Hong Kong are improving at a faster pace than ever before. The evolution seems to be due to an increased demand for Hong Kong-source products and services. Companies in Hong Kong are hiring more employees and report higher purchase activity. One of our lawyers in Hong Kong can give you complete information if you are interested in investing in the city.
Higher Purchase Manager’s Index in Hong Kong
According to the survey performed by Nikkei, Hong Kong’s Purchasing Manager’s Index rose from 51.1 to 51.3 (from June to July). The private sector showed the greatest signs of growth and it continues to build on the growth that it had already recorded from the previous quarter. The current data mark the most significant improvement for Hong Kong, over a period of three and a half years.
The overall conditions for doing business in Hong Kong
improved as there were clear signs of more client demand and higher corporate purchase rates. The total number of new business has also been following a growth path and was supported by the increase in sales to China. In some business fields, companies attributed their positive evolution to a larger number of tourists (and thus a sales increase) but also to overseas expansion (where applicable).
Corporate expansion in Hong Kong
The study highlights another change that signals an improvement in the business activity: a better demand encouraged companies to hire more employees in Hong Kong
. Growth was fractional; however, the number of new employees rose for the third consecutive month. The report also found that there was an increase in part-time hiring.
Employment in Hong Kong is regulated by law and companies can use the legal aid provided by a law firm in Hong Kong in all cases involving employment or organizational staff changes.
The Nikkei PMI data is based on monthly questionnaires filled in by purchasing executives in more than 300 companies in Hong Kong.