Suppose I met someone to discuss some business topics, so the conversation is going to be quite formal. My companion started it with saying "How are you?". Is that acceptable to say "I'm great, hope you too." in a formal conversation?
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The "How are you?" (or "How do you do?" in BrE, somewhat outdated) is a highly ritualized form of greeting and not a question.
Rest assured that your business partner isn't interested in your well-being, at least in 9 out of 10 cases. Treat it like a "verbal handshake" and answer "I'm fine, how are you?". (Or "How do you do?" to your fellow Brit.)
If you are limping into the meeting room with a cast on your leg and on crutches, or you had to cancel last week's meeting because you had a heart attack, you may be a bit more honest...
