Hong Kong Business Confidence Rebounds as Firms Adapt to Geopolitical Headwinds, AmCham Survey Finds
HONG KONG, February 2 (Reuters) – Defying a backdrop of sustained global friction, corporate sentiment in Hong Kong has strengthened markedly for the coming year, according to a key industry survey released on Monday. The American Chamber of Commerce in Hong Kong (AmCham) reported that more than 50% of its member companies' senior leaders are optimistic about the 12-month business outlook, a notable jump from 33% a year ago.
The findings suggest a growing resilience among multinationals based in the Asian financial hub, even as U.S.-China relations remain a primary concern. The two economic giants have been locked in a protracted standoff over trade, technology, and geopolitical influence, though a tentative truce was reached following talks between the nations' leaders in late 2025.
"While geopolitical tensions are unequivocally the top challenge, businesses in Hong Kong are learning to navigate this new reality," the AmCham report stated. It highlighted that 61% of respondents cited general uncertainty as a major impact, while 62% pointed to the perceived blurring of lines between Hong Kong and mainland China. Trade tariffs (30%) and dual regulatory compliance (29%) were also cited as significant pressures.
Notably, the survey underscores Hong Kong's enduring role as a regional headquarters. An overwhelming 92% of multinational corporations indicated no plans to relocate their regional hubs away from the city in the next three years.
Analysts point to several stabilizing factors. "Improving local sentiment, anticipated monetary easing in the U.S., and Hong Kong's entrenched legal and financial infrastructure are providing a floor for confidence," said a Hong Kong government spokesman in a recent statement. The survey was conducted between November 2025 and January 2026.
Expert Commentary:
"This isn't blind optimism; it's strategic adaptation," says Michael Chen, a veteran financial analyst based in Central. "Firms have had years to adjust their supply chains and risk models. The high retention of HQs shows that for many, the benefits of being here still outweigh the geopolitical costs."
"A 50% optimism rate is hardly a roaring endorsement," counters Sarah Jennings, a columnist for a regional business digest, her tone sharper. "It means half the room is still worried sick. This 'resilience' often just means absorbing higher costs and complexity. Let's not confuse adaptation with thriving."
"The data is encouraging for stability," notes David Li, a professor of international trade. "It suggests that while Hong Kong's unique position is being tested, its core advantages for international business remain largely intact, at least for now."