Nearly 70 percent of overseas enterprises indicated intentions to expand their footprint in the Greater Bay Area in the next three years and Hong Kong remained the most popular destination, a HSBC survey found. The poll took in 3,400 enterprises in 16 markets, including South Korea and Japan, with respondents operating in or eyeing entry into the Chinese market. Separately, BOC Hong Kong (2388) forecasts the SAR economy will grow 2.8 percent and the jobless rate drop to 3.1 percent this year, driven by tourism and consumption recoveries. This came as PwC's annual Global CEO Survey showed nearly three quarters of chief executives believe global growth will decline over the next 12 months. The poll took in 4,410 CEOs in 105 countries and territories in October and November.

Source: The Standard January 18, 2023 01:11 UTC