Hong Kong businesses optimistic heading into Q4

The hiring appetite was also largelt steady. 

Business confidence in Hong Kong improved slightly, with more firms expecting their business situation to be better (13%), according to the Census and Statistics Department’s (C&SD) Quarterly Business Tendency Survey.

This is up from 10% in the previous quarter. About 15% said they expected deterioration, down from 18% in Q3. This resulted in a net balance of -2%, compared with -8% in Q3.

Retail, financing and insurance, and accommodation and food services sectors recorded more positive expectations, whilst construction remained the weakest. Expectations for output were mixed, with as many sectors projecting increases as those anticipating declines.

"The overall near-term business outlook among large enterprises improved for the fourth quarter of 2025. The hiring appetite was largely steady on the whole," a government spokesman said.

"Local business sentiment will be well underpinned by the sustained expansion in various segments of the Hong Kong economy, notwithstanding the ongoing uncertainties in the external environment. The Government will monitor the situation closely," he added. 

The survey, conducted between 2 September and 10 October 2025, covered around 560 large enterprises across 10 major sectors, including manufacturing, construction, trade, retail, and finance. C&SD compiled results by net balance, representing the difference between the percentages of firms expecting increases and decreases in business conditions.