The Hong Kong Special Administrative Region continues to attract mainland and overseas corporations to set up shop in the city, amid the gradual recovery of the global economy and with the continuous support of the country.

Invest Hong Kong (InvestHK), the direct investment promotion agency of the SAR, on Tuesday announced that the department had assisted 322 mainland and overseas companies from 33 economies to set up or expand their business in the city during the first six months of this year, representing a year-on-year jump of 43 percent.

Among the 322 companies are 150 companies from the Chinese mainland, accounting for 47 percent of the total, followed by 30 from the United States, 19 from the United Kingdom, 18 from Singapore and 15 from France

This move has brought HK$38.3 billion ($4.91 billion) total investment into Hong Kong's economy and has created more than 3,500 jobs, up 6 percent and 44 percent respectively on a year-on-year basis.

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“This is attributable to the gradual recovery of the global economy and the continuous support from our country, hence accelerating the pace of companies expanding their business to Hong Kong,” said Alpha Lau Hai-suen, director-general of investment promotion at InvestHK.

“Financial services, innovation and technology and family offices are among some of the priority sectors. Geographically InvestHK will enhance our promotion drive in strategic markets, including the Association of Southeast Asian Nations economies and the Middle East and North Africa region, maximizing Hong Kong's advantages as a 'superconnector' and a 'super value-adder',” Lau said.

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Among the 322 companies are 150 companies from the Chinese mainland, accounting for 47 percent of the total, followed by 30 from the United States, 19 from the United Kingdom, 18 from Singapore and 15 from France.

Lau said the New Capital Investment Entrant Scheme, launched in March, has received a cumulative 310 applications and is estimated to raise an investment amount of HK$9 billion

In terms of sectors, 77 companies are from the financial services and fintech sector, 61 are from the innovation and technology sector, 52 are from the family offices sector, 33 are from the business and professional services sector, and 29 are from the consumer products sector.

Over the same period, the SAR also has attracted 49 strategic enterprises to settle in Hong Kong, creating 13,000 job positions and attracting direct investment of HK$40 billion.

The New Capital Investment Entrant Scheme, launched in March, has received a cumulative 310 applications and is estimated to raise an investment amount of HK$9 billion, Lau added.

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The director-general emphasized that InvestHK will continue to promote the city’s strengths to targeted companies in the second half of this year, focusing on promotion work in emerging markets. The agency plans to open offices in Egypt and Türkiye.

In its 2022 Policy Address, the SAR proposed performance indicators aimed at having at least 1,130 companies open or expand their business in Hong Kong in the coming three years — an average of nearly 400 companies per year. Lau is confident that this year's target can be achieved or even exceeded.