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1、 BUSINESS CLIMATE SURVEY FOR SWEDISH COMPANIES IN HONG KONG 2023 A REPORT FROM TEAM SWEDEN IN HONG KONG TABLE OF CONTENTS FOREWORD.3 EXECUTIVE SUMMARY.4 ABOUT THE SURVEY.5 ECONOMIC OUTLOOK.6 COVID-19 IMPACT.15 THE MARKET.18 HOW SWEDISH COMPANIES SUCCEED IN HONG KONG SAR.29 ACTING SUSTAINABLY.33 CONT

2、ACT US.40 KEY CONTRIBUTORS TO THIS REPORT Business Sweden in Hong Kong SAR Viktor Arthuis,Associate Swedish Chamber of Commerce in Hong Kong SAR Kelly Chung,International Trade Scholar Consulate General of Sweden in Hong Kong SAR Ellinor Fast,Trainee Copyright 2023 Business Sweden FOREWORD BUSINESS

3、CLIMATE SURVEY FOR SWEDISH COMPANIES IN HONG KONG 2023|3 FOREWORD Last years Team Sweden Business Climate Survey conducted in March 2022-was particularly influenced by the impact of the Covid-19 pandemic and related restrictions and uncertainties which companies then saw as strongly affecting Hong K

4、ongs business climate in a negative way.It was a difficult time for everyone.Some in our business community left Hong Kong for other markets.This years survey conducted in March 2023-paints a different picture in various ways.Several negative trends have been reversed.With the end of pandemic restri

5、ctions,including on traveling,companies expectations have improved,performance is rebounding and investment plans are more optimistic.At the same time,some challenges remain.Swedish companies continue to have an important presence in Hong Kong.There are currently around 120 Swedish or Swedish-relate

6、d companies in Hong Kong and they vary in size and number of years in the market.They cover a multitude of different business sectors,including the financial sector,transportation and logistics,creative industries and retail.Many of them have been present in Hong Kong for years and have contributed

7、greatly to the citys development.66 of them have provided input to this survey.We are grateful for their participation.The annual Team Sweden Business Climate Survey provides important information for companies in Sweden that are considering entering the Hong Kong market and those already in Hong Ko

8、ng considering further investments.This years survey shows that the companies financial performance is rebounding and the negative trend from the last few years has stopped,even though performance may not be back at pre-pandemic levels.Turnover expectations have improved and 38 per cent plan to incr

9、ease investments,compared to 29 per cent last year.The general view of the business climate has shifted significantly compared to a year ago.From very poor or poor majority ratings last year there is now a clear change with 50 per cent expressing a neutral view and 34 per cent indicating a good or v

10、ery good perception of the business climate in Hong Kong.As in previous years,Hong Kong gets very high favourability ratings on corporate taxation and personal safety.And when asked about the most significant advantages of doing business in Hong Kong,the companies in particular highlight Hong Kongs

11、free market economy and its role as a gateway to and from Mainland China.Even though pandemic restrictions have been removed,they still seem to have an impact on Hong Kongs business climate.When asked about business challenges,the“Covid-19 impact”remains the top factor for companies.The most importa

12、nt remaining pandemic impact,according to the survey,is companies difficulties to recruit and retain talent.Other important remaining pandemic effects are a fall in demand of goods and services and delays in delivery and shipping to customers.The most important priorities for Hong Kong in the post-p

13、andemic era,according to the companies,should be to re-establish Hong Kongs international connections,to promote Hong Kong externally and to build a green and sustainable city.Political developments over the last few years,including the implementation of the national security law,continue to affect

14、Hong Kongs business climate,according to the companies.Even though a majority of the companies reply that their operations have not been directly impacted,around half of them say that the overall business climate in Hong Kong has been negatively or very negatively impacted by political developments

15、including the implementation of the national security law.The companies main concerns,more specifically,are impacts on Hong Kongs status as an international business centre,freedom of speech,media freedom and the independence of the judicial system.It can also be noted that companies concerns about

16、data security have increased.Finally,the survey,just like previous years,shows that most Swedish companies take sustainability seriously.Sustainability is part of their business models and it contributes to their profitability.In fact,many of the Swedish companies are leaders in green solutions and

17、eager to share their experience and know-how as Hong Kong works towards the goal of carbon neutrality by 2050.They stand ready to continue to contribute to a greener and more sustainable future for the city.Hong Kong,June 2023 Per Augustsson Consul General of Sweden in Hong Kong Carrie Chan Acting M

18、arket Manager Business Sweden in Hong Kong Gabriella Augustsson General Manager of the Swedish Chamber of Commerce in Hong Kong EXECUTIVE SUMMARY BUSINESS CLIMATE SURVEY FOR SWEDISH COMPANIES IN HONG KONG 2023|4 EXECUTIVE SUMMARY 60 per cent of Swedish companies in Hong Kong SAR responded to the sur

19、vey.36 per cent are in the professional services industry.52 per cent are small companies with less than 250 global employees.3.2(up from 2.3 last year)out of 5 respondents rate the business climate better than in previous years.58 per cent(up from 53 per cent last year)were profitable in 2022.41 pe

20、r cent(same as last year)plan to keep their investment unchanged for the coming 12 months in Hong Kong SAR.51 per cent perceive a negative or very negative impact of the past 12 months political developments on the business climate.44 per cent see the impact of COVID-19 as their main challenge.61 pe

21、r cent use Hong Kong SAR as a regional hub for the Asia-Pacific region.77 per cent rate Hong Kong SAR as more competitive or on par with other international cities.Main advantages of Hong Kong SAR are a free market economy,gateway to/from Mainland China and access to key customers/business partners

22、according to the respondents.Top success factors for doing business in Hong Kong are cost efficiency,staff development/training and partnerships/local relationships.71 per cent believe that the Swedish brand contributes to their business.84 per cent(down from 86 per cent last year)have integrated su

23、stainability in their business model or company strategy.59 per cent(down from 69 per cent last year)are dissatisfied with the Hong Kong SAR governments sustainability policy.64 per cent(up from 60 per cent last year)have a proactive diversity and inclusion policy.50 per cent have at least 40 per ce

24、nt women in leadership positions in Hong Kong SAR.SAMPLE SELECTION ECONOMIC OUTLOOK MARKET INSIGHTS KEY SUCCESS FACTORS SUSTAINABILITY EQUALITY ABOUT THE SURVEY BUSINESS CLIMATE SURVEY FOR SWEDISH COMPANIES IN HONG KONG 2023|5 ABOUT THE SURVEY The Business Climate Survey for Swedish Companies in Hon

25、g Kong SAR 2023 is a joint initiative by Team Sweden in Hong Kong SAR(hereafter referred to as“Hong Kong”);Business Sweden,the Swedish Chamber of Commerce,and the Consulate General of Sweden.The Business Climate Survey has been carried out in Hong Kong annually since 1997 as part of a global initiat

26、ive,with reports published regularly in several markets around the world.The aim of the survey is to further understand the performance of Swedish companies,their perception towards market conditions,opportunities and challenges that they are facing,as well as their outlook on the Hong Kong market.T

27、he companies that participated in this survey either have headquarters in Sweden,have Swedish shareholders or owners,are part of a Swedish conglomerate,or have other significant affiliations to Sweden.With participation of high-level representatives from more than 60 Swedish companies in Hong Kong,t

28、he survey gives a comprehensive perspective on how Swedish companies view the business climate and their own performance in Hong Kong an important business and trading hub in Asia.Most of the questions in this years survey are similar to previous surveys in order to allow for comparison over time.Ne

29、vertheless,some questions have been added this year and some alterations have been made to response options to follow the evolving market.The survey has also been synchronized with the Business Climate Surveys carried out by Team Sweden in other markets around the world to enable comparability where

30、 relevant.The respondents represent a diverse set companies in size,industry and market experience The 2023 survey was conducted between 13 March 30 March 2023.The response rate was 60 per cent.Out of the 111 Swedish companies in Hong Kong who were invited to take part in the survey,66 companies par

31、ticipated.Group discussions were conducted with select companies for a deeper understanding of factors driving their responses.52 per cent of the respondents were small companies with less than 250 global employees,41 per cent were large companies with more than 1,000 global employees,and the remain

32、ing eight per cent were medium sized companies with a global number of employees between 250-1,000.The range of business areas represented in this report were grouped into three broad categories:professional services,consumer goods and industrial companies.The distribution remained similar to previo

33、us years with companies in professional services making up the largest share of respondents at 36 per cent(44 per cent in 2022),followed by industrial companies at 21 per cent(14 per cent in 2022)and consumer goods at 18 per cent (23 per cent in 2022).Professional services have historically made up

34、the largest share of respondent companies which matches the general Hong Kong business landscape.The vast majority of responding companies,86 per cent,have been present in the Hong Kong market since 2016 or earlier,while 14 per cent were newcomers (presence in Hong Kong since 2017 or later).This rem

35、ains similar to last year when the share of experienced/mature and newcomer companies were 87 per cent and 13 per cent respectively.PICOProfessional servicesIndustrial companiesConsumer goodsOtherSMLSmallMediumLarge14%45%41%NOTE:Percentages may vary due to rounding numbers ECONOMIC OUTLOOK BUSINESS

36、CLIMATE SURVEY FOR SWEDISH COMPANIES IN HONG KONG 2023|6 ECONOMIC OUTLOOK Financial performance is recovering,but losses are still present The survey showed that the negative trend from the last few years has stopped.During the fiscal year of 2020,77 per cent of responding companies reported making

37、profit or breaking even,in 2021 that number decreased to 64 per cent,however in 2022 the number increased to 70 per cent.While there was an increase both in the number of companies being profitable and the number of companies breaking even,the share of companies who reported a loss in 2022 remained

38、on a similar level to that in 2021.Separating the respondents by company size we observe that 21 per cent of smaller companies reported losses,which is an improvement compared to last year(32 per cent).At the same time 60 per cent of medium sized companies reported losses in 2022(11 per cent in 2021

39、).Note that the relatively small number of medium sized companies responding could affect the result.HOW WOULD YOU DESCRIBE YOUR COMPANYS FINANCIAL PERFORMANCE IN HONG KONG SAR IN 2022?NOTE:The numbers of respondents for this question were 66(2023),72(2022)and 62(2021).“Dont know/Not applicable”resp

40、onses are included but not shown in the figure.SOURCE:Business Climate Survey for Swedish Companies in Hong Kong SAR 2021-23,covering the fiscal years 2020-23.15%16%61%18%11%53%18%12%58%LossBreak-evenProfitable202020212022ECONOMIC OUTLOOK BUSINESS CLIMATE SURVEY FOR SWEDISH COMPANIES IN HONG KONG 20

41、23|7 The economy contracted in 2022,but growth is expected in a post-COVID-19 Hong Kong Hong Kongs GDP contracted by 3.5 per cent in 2022.Economic indicators were pointing upwards in 2021 after two years of contraction,and government forecasts put projected growth for 2022 at between 2 3.5 per cent.

42、However,the continuation of the pandemic instead led to similar performance to that in 2019 and 2020.Looking forward the economy is projected to grow by 2 per cent in 2023,and growth is expected to accelerate in the coming years.This puts Hong Kongs projected growth below that of Asia as a whole.Une

43、mployment was at 3.3 per cent at the beginning of the year,a decrease from a high of 4.5 per cent at the beginning of 2022 caused by the pandemic.PROJECTED GDP GROWTH IN HONG KONG SAR SOURCE:Oxford Economics,GDP,real,annual growth.Last update:24 April,2023;Hong Kong SAR Census and Statistics Departm

44、ent s -4%-2%0%2%4%6%8%202120222023f2024f2025fHong KongAsiaECONOMIC OUTLOOK BUSINESS CLIMATE SURVEY FOR SWEDISH COMPANIES IN HONG KONG 2023|8 Turnover expectations have improved,but remain divided Respondents were largely optimistic regarding turnover in the coming 12 months.In this years survey the

45、share of companies expecting increased turnover rose to 55 per cent from 40 per cent in last years survey.Those who expected decreased turnover remained largely unchanged at 27 per cent.However,the share of companies expecting turnover to remain unchanged dropped to nine per cent,significantly lower

46、 than 30 per cent in last years survey and 16 per cent in 2021.The expected turnover remained similar when separating the companies by size,with small,medium and large companies all falling in the 53-60 per cent span.When separating them by business areas there are bigger differences,although it sti

47、ll remains largely positive.Looking at the industrial companies,professional services and other business areas,between 60 and 67 per cent of respondents indicated that they expect increased turnover in the coming 12 months,while it was 46 per cent for companies in consumer goods.The share of compani

48、es expecting decreased turnover is highest for those in consumer goods and professional services at 36 per cent and 35 per cent respectively,followed by industrial businesses at 29 per cent and others at 20 per cent.COMPARED TO THE DEVELOPMENT IN THE PAST 12 MONTHS,WHAT ARE YOUR EXPECTATIONS FOR THE

49、 COMING 12 MONTHS FOR YOUR INDUSTRY IN HONG KONG SAR REGARDING TURNOVER?NOTE:Decrease and increase represent aggregations of slight/significant development changes.The numbers of respondents for this question were 66(2023),73(2022)and 62(2021).“Dont know/Not applicable”responses are included but not

50、 shown in the figure.SOURCE:Business Climate Survey for Swedish Companies in Hong Kong SAR 2021-23.21%16%57%36%30%40%27%9%55%Decrease significantly or slightlyRemain unchangedIncrease slightly or significantly202120222023ECONOMIC OUTLOOK BUSINESS CLIMATE SURVEY FOR SWEDISH COMPANIES IN HONG KONG 202

51、3|9 Planned investments reach a high since the start of the pandemic While companies differ in terms of investment plans,a positive trend can be spotted.38 per cent of companies reported plans to increase investments in the coming 12 months compared to the past 12 months,which is an increase from 29

52、 per cent in 2022 and 31 per cent in 2021.The share of companies planning to keep investments unchanged remained at 41 per cent,while the number for those planning to reduce investments dropped from 26 per cent to 18 per cent this year.Like last year,the small companies remained marginally more opti

53、mistic in terms of investments with 42 per cent planning to increase investments compared to 40 per cent for medium-sized companies and 35 per cent of large companies.WHAT ARE YOUR COMPANYS INVESTMENT PLANS FOR THE COMING 12 MONTHS IN HONG KONG SAR,COMPARED TO THE PAST 12 MONTHS?NOTE:Reduced and inc

54、reased represent aggregation of slight/significant development changes.The numbers of respondents for this question were 66(2023),73(2022)and 62(2021).“Dont know/Not applicable”responses are included but not shown in the figure.SOURCE:Business Climate Survey for Swedish Companies in Hong Kong SAR 20

55、21-23.0%15%53%31%0%26%41%29%0%18%41%38%Leave the marketReducedUnchangedIncreased202120222023ECONOMIC OUTLOOK BUSINESS CLIMATE SURVEY FOR SWEDISH COMPANIES IN HONG KONG 2023|10 Perception of the business climate in Hong Kong has improved Perception of the business climate in Hong Kong has significant

56、ly shifted among the respondents in comparison with previous years.In 2021 and 2022,more respondents perceived the business climate as poor or very poor,but in 2023 this has changed.34 per cent of respondents now perceived the business climate as good or very good(nine per cent in 2022),and half of

57、the respondents perceive it as neutral(34 per cent in 2022).14 per cent of respondents perceived it as poor or very poor,a significant decrease from 56 per cent in 2022.HOW DO YOU PERCEIVE THE CURRENT BUSINESS CLIMATE IN HONG KONG SAR?NOTE:The numbers of respondents for this question were 64(2023),7

58、0(2022)and 59(2021).“Dont know/Not applicable”responses are included but not shown in the figure.SOURCE:Business Climate Survey for Swedish Companies in Hong Kong SAR 2021-23.32%37%29%56%34%9%14%50%34%Very poor or poorNeutralGood or very good202120222023ECONOMIC OUTLOOK BUSINESS CLIMATE SURVEY FOR S

59、WEDISH COMPANIES IN HONG KONG 2023|11 Political developments are still seen by many as having a negative impact on the business environment Our report shows that around half of the Swedish companies in Hong Kong perceived the political development during the previous 12 months as negative or very ne

60、gative.Similar to last year,the percentage of respondents that perceived the political development as positive or very positive is about six per cent.WHAT HAS BEEN THE IMPACT OF POLITICAL DEVELOPMENTS DURING THE PAST 12 MONTHS,INCLUDING THE IMPLEMENTATION OF THE NATIONAL SECURITY LAW,ON THE OVERALL

61、BUSINESS CLIMATE IN HONG KONG SAR?NOTE:The numbers of respondents for this question were 65(2023),69(2022)and 62(2021).Dont know/Not applicable”responses are included but not shown in the figure.SOURCE:Business Climate Survey for Swedish Companies in Hong Kong SAR 2021-23.16%37%19%8%3%16%33%30%7%0%1

62、2%39%26%3%3%Very negativeNegativeNeutralPositiveVery positive202120222023ECONOMIC OUTLOOK BUSINESS CLIMATE SURVEY FOR SWEDISH COMPANIES IN HONG KONG 2023|12 Concerns about Hong Kongs status as an international business centre Similar to last year,the two main concerns for Swedish companies were that

63、 the political development jeopardizes Hong Kongs status as an international business centre and that it impacts freedom of speech.There are some changes that differ significantly from last years survey.The share of companies reporting concerns that political development will impact media freedom wa

64、s 33 per cent,an increase from 25 per cent in last years survey.Furthermore,Swedish companies concern about an impact on data security had more than doubled since last year,up to 19 per cent.WHAT ARE THE MAIN AREAS OF CONCERN(IF ANY)FOR THE OVERALL BUSINESS CLIMATE IN HONG KONG SAR WITH REGARD TO PO

65、LITICAL DEVELOPMENTS DURING THE PAST 12 MONTHS,INCLUDING THE IMPLEMENTATION OF THE NATIONAL SECURITY LAW?NOTE:The number of respondents for this question was 64.“Dont know/Not applicable”responses are included but not shown in the figure.Two alternatives have been removed since last year which may h

66、ave affected the results this year.SOURCE:Business Climate Survey for Swedish Companies in Hong Kong SAR 2023.8%16%17%17%19%22%30%33%39%55%It impacts access to informationI do not have any concerns at allThe risk of retaliatory measures by other governments(e.g.tariffs,export controls)It impacts the

67、 investment climate and access to capitalIt impacts data securityIt impacts staffing and talent shortageIt impacts the independence of the judicial systemIt impacts media freedomIt impacts freedom of speechIt jeopardizes Hong Kong SARs status as an international business centreECONOMIC OUTLOOK BUSIN

68、ESS CLIMATE SURVEY FOR SWEDISH COMPANIES IN HONG KONG 2023|13 Majority of Swedish companies have not been directly impacted by political development,but some still express concerns Most of the Swedish companies stated that their companys operations in Hong Kong had not been impacted by the political

69、 developments.A few reported that there had been an indirect impact,that it had an impact on their talent recruitment and that Hong Kong had lost its attractiveness.HAVE YOUR COMPANYS OPERATIONS IN HONG KONG SAR BEEN IMPACTED BY THE POLITICAL DEVELOPMENT DURING THE PAST 12 MONTHS,INCLUDING THE IMPLE

70、MENTATION OF THE NATIONAL SECURITY LAW,AND IF SO HOW?“Harder to find creative talents.”Company representative Swedish company“Not directly,but if many western companies bring production of goods away from China,we are impacted as a transportation company.”Company representative Swedish company“Many

71、of our clients now prefer Singapore as country of contracting.”Company representative Swedish company“Export restrictions from EU/US to Hong Kong,Macao and China for certain technologies that were not there in the past.”Company representative Swedish company SOURCE:Business Climate Survey for Swedis

72、h Companies in Hong Kong SAR 2023,Interviews.“ECONOMIC OUTLOOK BUSINESS CLIMATE SURVEY FOR SWEDISH COMPANIES IN HONG KONG 2023|14 Companies are divided on whether political development would impact their future plans About half of the respondents did not expect that the political developments in Hon

73、g Kong would impact their companies future plans.The other half were concerned that the current attractiveness and advantages of Hong Kong will be impacted,which mirrors the perceived impact on the respondent companies current operations.HOW DO YOU EXPECT THAT POLITICAL DEVELOPMENTS,INCLUDING THE IM

74、PLEMENTATION OF THE NATIONAL SECURITY LAW,WILL IMPACT YOUR COMPANYS FUTURE PLANS IN HONG KONG SAR?“Hong Kong was once a fixture for our company.Since the last few years of political changes,we now have contingency plans.”Company representative Swedish company“Indirectly only,as more businesses will

75、be wary of investing in Hong Kong due to a less predictable political climate.”Company representative Swedish company “No major impact unless indirectly impacted by companies that decide to halt production in China and move out of HK,then we would need to consider if remaining strongly based in HK i

76、s still worthwhile or if a different base/bases in South East Asia would cover the gap.”Company representative Swedish company SOURCE:Business Climate Survey for Swedish Companies in Hong Kong SAR 2023,Interviews.“COVID-19 IMPACT BUSINESS CLIMATE SURVEY FOR SWEDISH COMPANIES IN HONG KONG 2023|15 COV

77、ID-19 IMPACT Talent retention and recruitment has been affected by the COVID-19 pandemic While pandemic measures have been removed,their effects seem to remain in Hong Kong.Respondents stated that the two biggest challenges stemming from the pandemic are difficulties in recruiting and retaining tale

78、nt(48 per cent)and a fall in demand for goods/services(43 per cent).Another issue for the companies was that global shipping has not fully recovered,with 19 per cent of respondents putting delays in delivery/shipping to customers as one of their three biggest challenges.WITH HONG KONG SAR ENTERING T

79、HE POST-COVID-19 PANDEMIC ERA,WHAT WILL BE THE MAIN CHALLENGES FOR YOUR COMPANY IN 2023?NOTE:The number of respondents for this question was 65.Dont know/Not applicable”responses are included but not shown in the figure.Respondents could pick three options.SOURCE:Business Climate Survey for Swedish

80、Companies in Hong Kong SAR 2023.6%8%9%11%17%19%43%48%Foreign supplier delaysShortage of raw materialLack of cash flowProduction delaysNew business acquisitionsDelays in delivery/shiping to customersFall in demand for goods/servicesDifficulties in recruiting and retaining talentCOVID-19 IMPACT BUSINE

81、SS CLIMATE SURVEY FOR SWEDISH COMPANIES IN HONG KONG 2023|16 Post-COVID-19 priority should be re-establishing international connections and launching a green transition When asked what areas should be given priority by the Hong Kong SAR Government going forward,69 per cent of respondents chose re-es

82、tablishing international connections and promoting Hong Kong externally as one of the five most important areas.In second came building a green and sustainable city with 49 per cent,followed by increasing talent availability and attracting global top talent.WHAT AREAS DO YOU THINK THAT THE HONG KONG

83、 SAR GOVERNMENT SHOULD GIVE PRIORITY TO IN THE POST-COVID-19 PANDEMIC ERA?NOTE:The number of respondents for this question was 65.Dont know/Not applicable”responses are included but not shown in the figure.Respondents could choose five options.SOURCE:Business Climate Survey for Swedish Companies in

84、Hong Kong SAR 2023.14%14%17%23%25%40%42%46%49%69%Improving social mobility and reforming the educationControlling the pandemic and improving the health systemIncreasing land and housing supplyCapitalizing on opportunities with the Greater Bay AreaProviding financial support to individuals and enterp

85、rises torelaunch the economyPromoting innovation&technology and smart citydevelopmentImproving public governance and maintaining a safebusiness environmentIncreasing talent availability and attracting global top talentBuilding a green and sustainable cityRe-establishing international connections and

86、 promotingHong Kong externallyCOVID-19 IMPACT BUSINESS CLIMATE SURVEY FOR SWEDISH COMPANIES IN HONG KONG 2023|17 Mixed feelings about the effect of the COVID-19 pandemic on future plans Swedish companies had mixed feelings about how the COVID-19 pandemic has impacted their future plans in Hong Kong.

87、About half of the respondents expressed that they did not expect any changes in their future plans,while some stated concerns over talent recruitment and general negative effects that the COVID-19 pandemic has had on Hong Kong as an international hub.As a consequence of these concerns,some companies

88、 also expressed hesitation about investing in or remaining in Hong Kong in the future.HOW DO YOU PERCEIVE THAT THE COVID-19 PANDEMIC HAS IMPACTED YOUR COMPANYS FUTURE PLANS IN HONG KONG SAR?“The closing of the Hong Kong borders,and the ham-fisted implementation of various rules aimed at curing the p

89、andemic in the city led to(among others)talent leaving us,clients avoiding the city,potential partners avoiding Hong Kong as a place to do business.”Company representative Swedish company“On top of losing out as a regional hub its attractiveness as a gate to China has also waned considerably.We are

90、more likely to invest further directly in the mainland.”Company representative Swedish company SOURCE:Business Climate Survey for Swedish Companies in Hong Kong SAR 2023,Interviews.“THE MARKET BUSINESS CLIMATE SURVEY FOR SWEDISH COMPANIES IN HONG KONG 2023|18 THE MARKET 61 per cent use Hong Kong as

91、a regional hub for the Asia/Asia-Pacific region 61 per cent of the Swedish companies reported using Hong Kong as a regional hub for Asia/Asia Pacific,largely unchanged from last year but an increase from 2021.12 per cent of the respondents said that Hong Kong used to be their regional hub,while 15 p

92、er cent have never used their Hong Kong office as a regional hub.WHAT IS THE PURPOSE OF THE REGIONAL HUB?NOTE:The numbers of respondents for this question were 40(2023),45(2022)and 33(2021).Dont know/Not applicable”responses are included but not shown in the figure.The answer“Regional HQ”in the prev

93、ious surveys has been changed to“Regional hub”.SOURCE:Business Climate Survey for Swedish Companies in Hong Kong SAR 2021-23.8%20%23%28%35%38%40%63%17%30%24%38%52%36%38%59%15%27%21%36%48%36%39%58%ManufacturingMarketingResearch&DevelopmentLogisticsSalesFinancial controlPurchasing&SourcingOverall mana

94、gement20212022202361%12%15%YesUsed to beNever has beenIS YOUR OFFICE IN HONG KONG SAR A REGIONAL HUB?NOTE:The number of respondents for this question was 66.Dont know/Not applicable”responses are included but not shown in the figure.The answer“Regional HQ”in the previous surveys has been changed to“

95、Regional hub”.SOURCE:Business Climate Survey for Swedish Companies in Hong Kong SAR 2023.THE MARKET BUSINESS CLIMATE SURVEY FOR SWEDISH COMPANIES IN HONG KONG 2023|19 Swedish companies plan on keeping Hong Kong as their regional hub 60 per cent of the companies that reported using Hong Kong as their

96、 regional hub stated that it will remain so for the foreseeable future,while 25 per cent reported that it will remain a regional hub for at least three years.The companies(13 per cent)that considered or planned to move their regional hub away from Hong Kong did so for a variety of reasons.Recurring

97、reasons in the open-ended responses were cost of living,political stability and talent attraction.For companies that have already moved their regional hubs away from Hong Kong their reasons included lockdown during the pandemic,geopolitics and pivoted business priorities.WILL YOUR HONG KONG SAR OFFI

98、CE REMAIN THE REGIONAL HUB IN THE COMING YEARS?NOTE:The number of respondents for this question was 40.“Dont know/Not applicable”responses are included but not shown in the figure.SOURCE:Business Climate Survey for Swedish Companies in Hong Kong SAR 2023.60%25%10%3%Yes,for the foreseeablefutureYes,f

99、or at least 3 yearsYes,but consideringrelocationNo,in the process ofrelocationTHE MARKET BUSINESS CLIMATE SURVEY FOR SWEDISH COMPANIES IN HONG KONG 2023|20 Business conditions in Hong Kong continue to be perceived as favourable Overall,the business conditions in Hong Kong were reported to meet compa

100、nies needs and were perceived as favourable.All conditions received higher marks than in 2022,with the exception of customs which was a new answer option for 2023.This was a significant change of course from last years result which was a three-year low.Corporate taxation maintained its position as t

101、he best met condition followed by personal safety,and physical infrastructure has overtaken financial system for third place.HOW WELL DO THE FOLLOWING CONDITIONS MEET THE NEEDS OF YOUR COMPANY IN HONG KONG SAR?NOTE:The number of respondents for this question was 66.“Dont know/Not applicable”response

102、s are included but not shown in the figure.SOURCE:Business Climate Survey for Swedish Companies in Hong Kong SAR 2023.6.16.36.47.17.17.17.27.27.47.57.67.77.77.98123456789Level of digitalizationTransparency and equal treatmentAccess to specialists and key personnelMarket accessLicenses,permits and ap

103、provalsWork culture/Business mindsetAccess to service providersAccess to distributorsLabour market regulationsAccess to suppliersCustomsFinancial systemPhysical infrastructurePersonal safetyCorporate taxationTHE MARKET BUSINESS CLIMATE SURVEY FOR SWEDISH COMPANIES IN HONG KONG 2023|21 Hong Kongs fre

104、e market economy and its role as a gateway to Mainland China are the two most significant advantages of being in Hong Kong The ranking of the most significant advantages of being in Hong Kong with regards to business activities has been reshuffled.After being at the top for three years,the taxation

105、system has fallen to fifth place with 25 per cent picking that option.This years top spot is shared between free market economy and gateway to/from mainland China,both at 40 per cent,with the former increasing significantly from 24 per cent in the 2022 survey.In third place respondents put access to

106、 key customers and/or business partners which increased from 31 per cent to 35 per cent,and in fourth is availability of highly skilled personnel which increased from 22 per cent to 29 per cent.WHICH ARE THE MOST SIGNIFICANT ADVANTAGES OF BEING IN HONG KONG SAR WITH REGARDS TO YOUR BUSINESS ACTIVITI

107、ES?NOTE:The numbers of respondents for this question was 65(2023),72(2022)and 62(2021).“Dont know/Not applicable”responses are included but not shown in the graph.Gateway to/from Mainland China has replaced Gateway to China and Gateway from China as a response option.Note that the overall drop in pe

108、rcentages is due to reducing the number of maximum answers from five to three.SOURCE:Business Climate Survey for Swedish Companies in Hong Kong SAR 2021-23.11%12%20%20%23%25%29%35%40%40%22%28%24%30%30%39%22%31%24%26%12%39%39%27%42%26%35%Communications networkOverall business potentialLegal®ulator

109、y systemGeographical locationEnglish language proficiencyTaxation systemAvailability of highly skilled personnelAccess to key customers and/or business partnersGateway to/from Mainland ChinaFree market economy202120222023THE MARKET BUSINESS CLIMATE SURVEY FOR SWEDISH COMPANIES IN HONG KONG 2023|22 M

110、ainland China remains the most interesting market in the region Swedish companies in Hong Kong continued to consider Mainland China as the most interesting market in the next three years.62 per cent of respondents ranked Mainland China among their top five most interesting markets,which is a margina

111、l increase from last year.Vietnam remained in second place at 32 per cent,followed by Hong Kong SAR in third at 27 per cent.WHICH MARKETS IN THE ASIA-PACIFIC REGION DO YOU CONSIDER THE MOST INTERESTING FOR THE NEXT THREE YEARS FOR YOUR COMPANY?NOTE:The numbers of respondents for this question was 66

112、(2023)and 73(2022).“Dont know/Not applicable”responses are included but not shown in the graph.Respondents were limited to five options instead of an unlimited number of options in the 2022 survey.SOURCE:Business Climate Survey for Swedish Companies in Hong Kong SAR 2022 and 2023.Top 3 markets ranke

113、d by order(last years rank)1.(1)Mainland China 2.(2)Vietnam 3.(3)Hong Kong SAR Other interesting markets ranked by order(last years rank)4.(5)India 5.(7)Japan 5.(4)Singapore 7.(8)Korea 8.(5)Taiwan 9.(10)Thailand 10.(11)Indonesia 11.(8)Australia 12.(13)Malaysia 13.(14)Macau SAR 14.(12)Philippines THE

114、 MARKET BUSINESS CLIMATE SURVEY FOR SWEDISH COMPANIES IN HONG KONG 2023|23 A majority of companies use their Hong Kong office to cover the Greater Bay Area Hong Kong is used as the base for many companies operations in the Guangdong Hong Kong Macau Greater Bay Area(GBA).30 per cent of respondents st

115、ated that their Hong Kong office covers the entire GBA while 38 per cent use it to cover the GBA partially,and 26 per cent do not cover the GBA from Hong Kong.DOES YOUR HONG KONG OFFICE COVER THE GREATER BAY AREA(GUANGDONG HONG KONG MACAU)BESIDE HONG KONG SAR?NOTE:The number of respondents for this

116、question was 66.SOURCE:Business Climate Survey for Swedish Companies in Hong Kong SAR 2023.30%38%26%Yes,fullyYes,partiallyNoTHE MARKET BUSINESS CLIMATE SURVEY FOR SWEDISH COMPANIES IN HONG KONG 2023|24 The Greater Bay Area is not seen as a key factor to companies growth prospects The Greater Bay Are

117、a integration initiative was launched in 2018,with the aim to integrate the two special administrative regions of Hong Kong and Macau with the nine main cities of the Guangdong province.Last year saw an increase in companies reporting that the GBA played a role in their growth prospects in the regio

118、n,and this year the number of companies who answered dont know/not applicable decreased further,but while that growth has continued it is still not seen as very important.30 per cent of companies stated that the GBA is important or very important to their growth prospect,up from 28 per cent last yea

119、r.Meanwhile 38 per cent stated that it is of little importance or not at all important,and five per cent answered dont know/not applicable,down from 11 per cent last year.Some key reasons as to why the GBA is not important to the companies growth prospects are no business opportunities,laws and regu

120、lations make it too complicated and not of interest.HOW DO YOU VIEW THE IMPORTANCE OF THE GREATER BAY AREA TO YOUR ORGANIZATIONS GROWTH PROSPECTS?NOTE:The numbers of respondents for this question were 66(2023)and 73(2022).“Dont know/Not applicable”responses are included but not shown in the graph.Pe

121、rcentages may vary due to rounding numbers.SOURCE:Business Climate Survey for Swedish Companies in Hong Kong SAR 2022 and 2023.16%26%19%16%12%11%27%27%20%11%0%5%10%15%20%25%30%Not at all importantOf little importanceModerately importantImportantVery important20222023THE MARKET BUSINESS CLIMATE SURVE

122、Y FOR SWEDISH COMPANIES IN HONG KONG 2023|25 WHY IS THE GREATER BAY AREA NOT IMPORTANT TO YOUR ORGANIZATIONS GROWTH PROSPECTS?NOTE:The number of respondents for this question was 23.The question was only asked to those who responded“Not at all important”or“Of little importance”to the question“How do

123、 you view the importance of the Greater Bay Area to your organisations growth prospects?”.SOURCE:Business Climate Survey for Swedish Companies in Hong Kong SAR 2023.WHAT OPPORTUNITIES DO YOU SEE FOR YOUR COMPANY IN THE GREATER BAY AREA?“Mainland China and GBA has higher ambitions and are more action

124、 oriented in sustainability development compared to HK.”Company representative Swedish company “More work needed to make GBA come alive.”Company representative Swedish company “With open borders we have easier access to visit potential clients in the GBA,being able to conduct business face-to-face i

125、s critical.”Company representative Swedish company “What actually is the GBA concept?”Company representative Swedish company SOURCE:Business Climate Survey for Swedish Companies in Hong Kong SAR 2023,Interviews.9%9%17%22%22%Limited knowledge of the areaLimited resources for exploring the GBANot of i

126、nterestLaws and regulations make it too complicatedNo business opportunities“THE MARKET BUSINESS CLIMATE SURVEY FOR SWEDISH COMPANIES IN HONG KONG 2023|26 Hong Kong is perceived as more competitive than in previous years Hong Kongs perceived competitiveness has rebounded in 2023.36 per cent of respo

127、ndents considered Hong Kong to be more competitive or much more competitive than other international cities in the region and globally,largely unchanged from 35 per cent last year.The difference can be seen in the other responses.The number of respondents who answered on par with other international

128、 cities increased from 34 per cent to 41 per cent,and the number of respondents who answered less competitive or much less competitive dropped from 28 per cent to 24 per cent.WHAT IS YOUR ASSESSMENT OF HONG KONG SARS OVERALL COMPETITIVENESS COMPARED TO OTHER INTERNATIONAL CITIES IN THE REGION AND GL

129、OBALLY?NOTE:The number of respondents for this question was 64.Wording of the answer options has changed from last year while the scale remained the same,which may influence the responses.SOURCE:Business Climate Survey for Swedish Companies in Hong Kong SAR 2023.2%22%41%30%6%Much less competitiveLes

130、s competitiveOn par with otherinternational citiesMore competitiveMuch more competitiveTHE MARKET BUSINESS CLIMATE SURVEY FOR SWEDISH COMPANIES IN HONG KONG 2023|27 Pandemic restrictions have been lifted,but their impact remains a top challenge The top four challenges remained unchanged compared to

131、last year.While pandemic restrictions have been lifted Swedish companies still considered the COVID-19 impact to be the most challenging factor for their businesses in Hong Kong,with the number of respondents dropping significantly from 87 per cent to 44 per cent.High cost of rent or property is tie

132、d for first place with an increase from 41 per cent to 44 percent.Directions from Mainland China remained at 32 per cent,however it has overtaken political developments in ranking due to the latter dropping from 39 per cent to 24 per cent,a response rate shared with retaining or attracting skilled l

133、abour.Worth noting is that retaining or attracting skilled labour has increased from 12 per cent in 2022 to 24 per cent in 2023.This has been reflected in other responses and interviews,varying from industry to industry.The answer competition has also been divided into competition from other APAC ma

134、rkets,competition within Hong Kong and competition from the Greater Bay Area,with other APAC markets being seen as the biggest challenge ahead of local competition in Hong Kong.WHAT ARE THE TOP THREE FACTORS THAT YOU CONSIDER THE MOST CHALLENGING FOR YOUR BUSINESS IN HONG KONG SAR?NOTE:The numbers o

135、f respondents for this question were 66(2023)and 73(2022).SOURCE:Business Climate Survey for Swedish Companies in Hong Kong SAR 2022 and 2023.12%15%20%21%24%24%32%44%44%10%8%12%39%32%41%87%Lack of demandCompetition from other APAC marketsEconomic outlookHigh labour costsRetaining or attracting skill

136、ed labourPolitical developmentDirections from Mainland ChinaHigh cost of rent or propertyCOVID-19 impact20222023THE MARKET BUSINESS CLIMATE SURVEY FOR SWEDISH COMPANIES IN HONG KONG 2023|28 22 per cent of companies encountered trade barriers in 2022 22 per cent of respondents stated that their compa

137、ny had encountered trade barriers in the past year.Just like last year the most common barrier was technical regulations or standards followed by customs procedures,however multiple respondents specified other trade barriers,including issues connected to United States China sanctions.HAS YOUR COMPAN

138、Y IN THE PAST YEAR ENCOUNTERED TRADE BARRIERS IN HONG KONG SAR WITH A NOTICEABLY NEGATIVE IMPACT ON OPERATIONS,IN ANY OF THE FOLLOWING AREAS?NOTE:The numbers of respondents for this question were 59(2023)and 73(2022).The figure shows the number of respondents having encountered the respective barrie

139、rs.SOURCE:Business Climate Survey for Swedish Companies in Hong Kong SAR 2022 and 2023.12223585355785Local content restrictionsState aid or subsidies to domestic competitorsRestrictions on access to financingLevel of customs dutiesCustoms proceduresTechnicaly regulations or standardsOther20222023HOW

140、 SWEDISH COMPANIES SUCCEED IN HONG KONG SAR BUSINESS CLIMATE SURVEY FOR SWEDISH COMPANIES IN HONG KONG 2023|29 HOW SWEDISH COMPANIES SUCCEED IN HONG KONG SAR Swedish companies operations in Hong Kong The Swedish companies main areas of operation remained relatively stable with one major exception.Ma

141、rketing and/or sales continued to be the most common operation,remaining at 58 per cent,in second place was after-sales and/or support which applies to 39 per cent of respondents,up significantly from 22 per cent in 2022.Sourcing and trading dropped from 41 per cent to 33 per cent,and provision of s

142、ervices was up from 27 per cent to 30 per cent.WHAT OPERATIONS DO YOU CARRY OUT IN HONG KONG SAR?NOTE:The numbers of respondents for this question were 66(2023),73(2022)and 62(2021).“Dont know/Not applicable”responses are included but not shown in the figure.SOURCE:Business Climate Survey for Swedis

143、h Companies in Hong Kong SAR 2023.9%20%30%33%39%58%11%22%27%41%22%58%8%16%35%26%27%48%Manufacturing and/or assemblyResearch and developmentProvision of servicesSourcing and tradingAfter-sales and/or supportMarketing and/or sales202120222023HOW SWEDISH COMPANIES SUCCEED IN HONG KONG SAR BUSINESS CLIM

144、ATE SURVEY FOR SWEDISH COMPANIES IN HONG KONG 2023|30 Numerous factors continue to be important in maintaining competitiveness Just like in previous years the areas that are important to maintaining competitiveness were quite evenly distributed,however their positions have changed significantly this

145、 year.Cost efficiency has risen to become the most important area with 42 per cent of respondents putting it in their top three,and staff development/training has gone from being ranked seventh to being the second most important at 36 per cent.Collaboration with/feedback from customers has dropped f

146、rom being first place last year to sixth this year.WHICH OF THE FOLLOWING AREAS HAVE BEEN IMPORTANT FOR YOUR COMPANY IN MAINTAINING COMPETITIVENESS IN HONG KONG SAR?CHOOSE MAXIMUM THREE.NOTE:The number of respondents for this question was 64.“Dont know/Not applicable”responses are included but not s

147、hown in the figure.The question was changed from ranking each area on a scale to picking the three most important areas.SOURCE:Business Climate Survey for Swedish Companies in Hong Kong SAR 2023.5%16%16%16%22%22%23%25%33%36%42%Public affairs/Relations with governmentSustainabilityDigitalization and

148、e-commerceBrand awarenessProduct development/adaptationCollaboration with/feedback from customersSales competenceService development/adaptationPartnerships/local relationshipsStaff development/trainingCost efficiencyHOW SWEDISH COMPANIES SUCCEED IN HONG KONG SAR BUSINESS CLIMATE SURVEY FOR SWEDISH C

149、OMPANIES IN HONG KONG 2023|31 The“Swedish brand”remains a contributing factor to success in Hong Kong Continuing the positive results from last year,52 per cent of respondents believed that the“Swedish brand”contributes to their business to an extent or to a great extent,up from 49 per cent last yea

150、r.20 per cent believed that it contributed partially(unchanged from last year),while the share of respondents who believed it contributes little or not at all dropped from 24 per cent to 18 per cent.TO WHAT EXTENT WOULD YOU ESTIMATE THAT THE“SWEDISH BRAND”CONTRIBUTES TO YOUR BUSINESS IN HONG KONG SA

151、R?NOTE:The numbers of respondents for this question were 66(2023),70(2022)and 62(2021).“Dont know/Not applicable”responses are included but not shown in the figure.SOURCE:Business Climate Survey for Swedish Companies in Hong Kong SAR 2021-23.21%23%52%24%20%49%18%20%52%Not at all or littlePartiallyTo

152、 an extent or to a great extent202120222023HOW SWEDISH COMPANIES SUCCEED IN HONG KONG SAR BUSINESS CLIMATE SURVEY FOR SWEDISH COMPANIES IN HONG KONG 2023|32 Companies associate the“Swedish brand”with quality,sustainability and innovation The characteristics that were the most associated with the“Swe

153、dish brand”were quality(71 per cent,down from 75 per cent in 2022),sustainability(54 per cent,down from 56 per cent)and innovation(49 per cent,down from 58 per cent).Quality maintained its first place from last year,and the top six also remained the same,however there have been some changed rankings

154、 with sustainability and innovation trading places as well as safety dropping from fourth place to sixth place.WHICH CHARACTERISTICS DESCRIBE HOW THE SWEDISH BRAND IS PERCEIVED IN HONG KONG SAR?NOTE:The numbers of respondents for this question were 65(2023)and 73(2022).“Dont know/Not applicable”resp

155、onses are included but not shown in the figure.SOURCE:Business Climate Survey for Swedish Companies in Hong Kong SAR 2023.ACTING SUSTAINABLY BUSINESS CLIMATE SURVEY FOR SWEDISH COMPANIES IN HONG KONG 2023|33 ACTING SUSTAINABLY Low levels of corruption Hong Kong ranked 12th out of 180 countries and t

156、erritories in Transparency Internationals Corruption Perception Index 2022.In Asia,the territory is outranked only by Singapore.Hong Kongs high ranking is reflected in our results with few respondents reporting having been exposed to corruption.Only seven out of the 66 company representatives partic

157、ipating in our survey reported having been exposed to corruption in the previous year,a slight increase from last years number of five.HAS YOUR COMPANY IN HONG KONG SAR BEEN EXPOSED TO CORRUPTION WITH ANY OF THE FOLLOWING AREAS?NOTE:The numbers of respondents for this question were 55(2023)and 65(20

158、22).SOURCE:Business Climate Survey for Swedish Companies in Hong Kong SAR 2022 and 2023,Transparency International 0%5%0%94%0%9%4%87%Public bodiesPrivatecounterpartsInternalcounterpartsDont know/Notapplicable20222023Corruption Perception Index 2022 Country:Ranking:Denmark 1 Finland 2 New Zealand 2 N

159、orway 4 Singapore 5 Sweden 5 Hong Kong SAR 12 Japan 18 Taiwan 25 South Korea 31 Mainland China 65 ACTING SUSTAINABLY BUSINESS CLIMATE SURVEY FOR SWEDISH COMPANIES IN HONG KONG 2023|34 No company encountered human rights violations in the past year For the first time the survey contained a question o

160、n whether the companies had encountered human rights violations in Hong Kong,and no company reported having encountered any within the areas supply chains,partners and collaborators or customers.HAS YOUR COMPANY IN HONG KONG SAR ENCOUNTERED ANY FORM OF HUMAN RIGHTS VIOLATIONS AND/OR LABOUR RIGHTS AB

161、USE IN ANY OF THE FOLLOWING AREAS?NOTE:The number of respondents for this question was 53.“Dont know/Not applicable”responses are included but not shown in the figure.SOURCE:Business Climate Survey for Swedish Companies in Hong Kong SAR 2023.0%0%0%100%Supply chainsPartners and collaboratorsCustomers

162、Dont know/Not applicable2023ACTING SUSTAINABLY BUSINESS CLIMATE SURVEY FOR SWEDISH COMPANIES IN HONG KONG 2023|35 Sustainability is incorporated into 84 per cent of companies business models and continues to be significant to profitability 84 per cent of the Swedish companies stated that sustainabil

163、ity is a part of their business model or strategy.Furthermore,80 per cent of the companies indicated that sustainability work contributes to profitability,and 49 per cent expressed this impact to be medium to high.This is a slight increase compared to 2022 and matches the image the“Swedish brand”has

164、 of sustainability.IS SUSTAINABILITY WORK PART OF YOUR COMPANYS BUSINESS MODEL OR STRATEGY?NOTE:The number of respondents for this question was 64.Dont know/Not applicable”responses are included but not shown in the figure.SOURCE:Business Climate Survey for Swedish Companies in Hong Kong SAR 2023.TO

165、 WHAT EXTENT DOES THE SUSTAINABILITY WORK CONTRIBUTE TO YOUR COMPANYS PROFITABILITY?NOTE:The numbers of respondents for this question were 65(2023),72(2022)and 62(2021).Dont know/Not applicable”responses are included but not shown in the figure.SOURCE:Business Climate Survey for Swedish Companies in

166、 Hong Kong SAR 2021-23.84%13%3%YesNoDont know/Not applicable4%34%21%32%13%33%21%24%11%31%15%34%No impactLimited impactMedium impactHigh impact202120222023ACTING SUSTAINABLY BUSINESS CLIMATE SURVEY FOR SWEDISH COMPANIES IN HONG KONG 2023|36 The importance of environmental aspects to consumers is incr

167、easing,but sentiments remain lukewarm 26 per cent of the Swedish companies report that consumers consider environmental aspects of their purchasing decision to an extent or to a great extent,down somewhat from 32 per cent in last years survey.The big difference can be found in those reporting that c

168、onsumers consider environmental aspects partially,increasing from 13 per cent in 2022 to 35 per cent in 2023,and compared to 2021 the number of companies reporting that consumers consider it not at all or little has decreased significantly,down from 42 per cent to 25 per cent in this years survey.IN

169、 YOUR VIEW,TO WHAT EXTENT DO CUSTOMERS IN YOUR INDUSTRY IN HONG KONG SAR CONSIDER ENVIRONMENTAL ASPECTS OF A PRODUCT OR SERVICE IN THEIR PURCHASING DECISION?NOTE:The numbers of respondents for this question were 65(2023),70(2022)and 62(2021).Dont know/Not applicable”responses are included but not sh

170、own in the figure.SOURCE:Business Climate Survey for Swedish Companies in Hong Kong SAR 2021-23.42%29%25%34%13%32%25%35%26%Not at all or littlePartiallyTo an extent or to a great extent202120222023ACTING SUSTAINABLY BUSINESS CLIMATE SURVEY FOR SWEDISH COMPANIES IN HONG KONG 2023|37 Perception of gov

171、ernment policies on sustainability has improved,but remain overall negative The Hong Kong government has an objective of reaching carbon neutrality by 2050.However,company representatives sentiment,as expressed in our survey,underlined the perceived deficiencies of government policies on sustainabil

172、ity.The number of respondents who believed that government policies on sustainability are acceptable or good doubled from 16 per cent to 32 per cent while those who believed them to be somewhat unsatisfactory or unsatisfactory decreased from 69 per cent to 59 per cent,but the overall sentiment remai

173、ned negative.HOW DO YOU PERCEIVE THE HONG KONG SAR GOVERNMENTS POLICIES ON ENVIRONMENTAL SUSTAINABILITY SUCH AS ACHIEVING CARBON NEUTRALITY?NOTE:The numbers of respondents for this question were 65(2023)and 73(2022).SOURCE:Business Climate Survey for Swedish Companies in Hong Kong SAR 2022 and 2023.

174、“I see that the sustainability efforts by the government here is greenwashing at the best.”Company representative Swedish company “Personally,I think Hong Kong SAR still needs a lot of input&support on real sustainability.”Company representative Swedish company SOURCE:Business Climate Survey for Swe

175、dish Companies in Hong Kong SAR 2023,Interviews.44%25%16%0%15%31%28%29%3%9%UnsatisfactorySomewhat satisfactoryAcceptableGoodDont know/Notapplicable20222023“ACTING SUSTAINABLY BUSINESS CLIMATE SURVEY FOR SWEDISH COMPANIES IN HONG KONG 2023|38 Most companies have a proactive diversity and inclusion po

176、licy 64 per cent(compared to 60 per cent last year)of the respondents indicated that their companies have a proactive diversity and inclusion policy,whereas 20 per cent(17 per cent last year)of the respondents did not have such policies.For large companies the number with proactive diversity and inc

177、lusion policies increased to 88 per cent,while it was 42 per cent for small companies.DOES YOUR COMPANY HAVE A PROACTIVE DIVERSITY&INCLUSION POLICY?NOTE:Reduced and increased represent aggregation of slight/significant development changes.The number of respondents for this question was 64.SOURCE:Bus

178、iness Climate Survey for Swedish Companies in Hong Kong SAR 2022 and 2023.64%20%16%YesNoDont know/Not applicableACTING SUSTAINABLY BUSINESS CLIMATE SURVEY FOR SWEDISH COMPANIES IN HONG KONG 2023|39 Half of all Swedish companies in Hong Kong have at least 40 per cent women in leading positions Women

179、continue to be represented in leading positions among Swedish companies in Hong Kong,although men are still the majority.41 per cent of respondents stated that women represent 50 per cent or more of their board,management and/or directors,while 50 per cent stated that women represent 40 per cent or

180、more of leading positions.This is in line with the Business Climate Surveys conducted in 2021 and 2022.APPROXIMATELY WHAT IS THE PERCENTAGE OF WOMEN IN LEADING POSITIONS(BOARD,MANAGEMENT,DIRECTORS)IN YOUR COMPANY IN HONG KONG SAR?NOTE:The numbers of respondents for this question were 66(2023),70(202

181、2)and 62(2021).Dont know/Not applicable”responses are included but not shown in the figure.SOURCE:Business Climate Survey for Swedish Companies in Hong Kong SAR 2021-23.21%6%15%8%13%26%11%7%16%4%16%24%14%6%14%9%21%20%10%20%30%40%50%50%202120222023 CONTACT US BUSINESS SWEDEN ask.hongkongbusiness-sweden.se SWEDISH CHAMBER OF COMMERCE .hk CONSULATE GENERAL OF SWEDEN generalkonsulat.hongkonggov.se