"The current economic downturn will be short lived," said the American Chamber of Commerce (AmCham) chairman Paula DeLisle. "Hong Kong's economic fundamentals are strong and we expect an economic recovery by 2003."
Ms DeLisle said Hong Kong possesses world-class standards in providing business with the right mix of services and knowledge, such as legal and marketing tools and the skills necessary to enhance business performance in the Chinese mainland.
The survey results revealed that China's entry to the World Trade Organisation has improved business sentiments for China trade and commerce. "We see a significant number of AmCham companies making initial or additional investments in the mainland," Ms De Lisle said.
German Industry and Commerce chairman and chief executive officer Ekkehard Goetting said the survey showed that Germany, which ranks as the eighth most important trading partner with Hong Kong, after China, USA, Taiwan, Singapore, Korea and the UK, has nearly 500 companies doing business in the territory.
Of those polled 67 per cent said that Hong Kong's location and its expertise were an indispensable asset to their company's business in China. More than 60 per cent predicted boom times for the companies over the next three years.
"Hong Kong's reputation as the prime location for business in the region is reflected in the fact that the majority of companies had not noticed any change in the legal system (91 per cent) and the territory also scored high marks on the absence of significant corruption," Mr Goetting said.
The survey, which compared the SAR with Beijing, Shanghai and Guangdong, showed that Hong Kong consistently topped the charts across a wide range of other business related issues.
