Hong Kong is the preferred location for mainland businesses to set up their Asian headquarters, the China News Service reported Monday, citing a survey by the China Council for Promotion of International Trade. The council said the Asian headquarters concept could become a new growth area for HK-mainland trade. Of the 333 mainland firms surveyed, 251 had invested directly overseas and 100 of those had invested in Hong Kong and Singapore, the report said. Of the 100 firms that had invested in Hong Kong and Singapore, 26 had Asian headquarters, 12 of which are in Hong Kong and four in Singapore. Of the 92 firms that plan to set up Asian headquarters in the next three years, 54 will opt for Hong Kong, while 11 are aiming for Singapore, the report said.
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