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ECONOMY | Staff Reporter, Hong Kong

Hong Kong businesses doubtful about outlooks: HSBC

But 50% still intends to increase investment in their business next year.

More than half of Hong Kong businesses are pessimistic about their business outlook, according to a survey by HSBC.

The HSBC Navigator said 53% of Hong Kong businesses are more pessimistic on how business outlook has changed in the last 12 months.

Despite doubts, half will still continue to take a chance in their businesses as 50% intends to increase investment in their business in the next year.

“For companies looking to invest, priorities are sales channels, cashflow and capital management and marketing. Digital-only platforms are considerations for over half of businesses that plan to maintain tech investments next year (52%, compared with 44% globally). The focus will be on technologies that improve speed to market, target new customers and enhance the customer experience,” HSBC said.

The survey also said that 72% of those surveyed expect to return to pre-COVID levels of profitability by 2022.

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