Business 101 usually explains the difference between the domicile of a company and its headquarters. The one refers to its officially registered home for tax and legal purposes, and often involves so-called tax havens. The other has to do with the primary location where its operations and management are based.
As a financial hub, Hong Kong has been a prime base for the regional headquarters of many multinationals. Recent domestic disturbances, health crises and geopolitical tensions might have deterred some firms, but things have stabilised and the stock market has rallied.
So far this year, 66 companies have raised US$23.27 billion on the main board of the local stock exchange, taking it well ahead of the New York Stock Exchange, with US$16.53 billion, and the Nasdaq with US$15.32 billion, according to the latest data from the London Stock Exchange Group. Suddenly, Hong Kong is a good place to make money again. So why not headquarter and domicile in the same city?
The sister companies in question are China Resources Beverage and China Resources Building Materials Technology.
