Invest Hong Kong assisted 436 overseas and Mainland companies to set up or expand in Hong Kong last year, up 8.5% year-on-year, setting a new record.

The firms come from 43 economies.

The Mainland continues to lead with a total of 101 companies, followed by 63 from the United States, 43 from the United Kingdom, 26 from France, followed by Australia and Singapore each with 20.

The companies are from a broad range of sectors. The top sector being innovation and technology, followed by tourism and hospitality, and transport and industrial.

Director-General of Investment Promotion Stephen Phillips said Hong Kong continues to attract overseas and Mainland investors because of its core advantages and emerging business opportunities, especially in light of the Belt & Road initiative and the latest developments in the Guangdong-Hong Kong-Macao Bay area.

“Our targets in 2019 include companies ranging from entrepreneur-led ventures to multinationals that plan to set up or expand in the city.

"Special focus is also being put on attracting innovation and technology companies in line with the Government's policy objectives," he added.