As the new political era begins, Hong Kong is hoping its long heady run as Asia's premier business center will remain unbroken. So far, the list of companies seeking to establish regional headquarters or China offices is not getting shorter. Next month flag carrier Air France will set up an Asia-Pacific base. Getting it running is Arthur Bullard, poached from Cathay Pacific's top management. The Asia-Pacific region is very high on Air France's international agenda.
Top priority is China.
Indeed, the enclave's ever-closer economic integration with the mainland is the most important factor determining its future. As long as China booms, so will Hong Kong. If one sees rosy prospects for business in China, then its resumption of sovereignty over Hong Kong should not be all that bad for commerce in the territory. Armed with incentives, neighboring rivals have been angling for multinationals having second thoughts about Hong Kong, hoping to snare their huge spending on staff and facilities, plus the massive financial transactions, business expertise and technical know-how employed by regional head offices. Or the whims of the regional boss.