HONG KONG EXPANSION: 10-20 Drug, Semiconductor Firms Moving Operations to City...

Between 10 and 20 additional companies—spanning pharmaceuticals and semiconductors—plan to establish or expand operations in Hong Kong, with roughly equal representation from mainland Chinese and foreign firms, according to Peter Yan King-shun, who heads the Office for Attracting Strategic Enterprises. The government office, which operates under the Financial Secretary, is preparing a formal announcement of the new arrivals for Thursday. Five of the world's ten largest drugmakers already operate in the city, signaling Hong Kong's appeal as a regional hub for high-value sectors despite broader economic headwinds facing Asia's financial centers.