HONG KONG – Chinese mainland enterprises constitute an important force driving Hong Kong's economic development, leader of the special administrative region said on Friday.

Addressing a spring reception held by the Hong Kong Chinese Enterprise Association, John Lee Ka-chiu said the number of companies in the SAR with overseas or Chinese mainland parent companies climbed to a historic 9,960 in 2024.

Of these, 2,620 enterprises came from the mainland, accounting for over 26 percent, making it the largest source of non-local companies based in the city.

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Lee emphasized that this demonstrates the strength of Chinese mainland enterprises and their positive role in Hong Kong's economic development.

He expressed his hope that these enterprises will continue to support and participate in the development of the Northern Metropolis.

Zheng Yanxiong, director of the Liaison Office of the Central People's Government in the HKSAR, said he hopes mainland enterprises will make good use of Hong Kong's unique advantages and continuously expand their investment in Hong Kong.

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He also expressed his hope that the mainland firms will optimize their business layouts, actively participate in the construction of the Northern Metropolis and fully support Hong Kong in consolidating its status as a financial, shipping, and trade center, as well as in building an international innovation and technology center, thereby helping Hong Kong integrate better into the overall national development.

Speaking at the event, Chairman of the Hong Kong Chinese Enterprises Association Wang Haimin said over the past year, the country's economy has continued to recover, and Hong Kong has made significant progress in governance and development, further strengthening its status as an international financial center.

The HKCEA will actively support Hong Kong and strengthen trade cooperation between the two regions, he said, adding that the association will take concrete actions to boost the "mega event economy" while supporting grassroots citizens and youth to grow.

Invest Hong Kong and the HKCEA collaborated on the annual spring reception receiving over 1,000 guests in recognition of mainland enterprises' lasting commitment and contributions to the city, while celebrating the Chinese New Year.

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In 2024, InvestHK assisted 273 mainland enterprises setting up or expanding in the city, which represents the largest source market in the department's portfolio.

With Xinhua inputs