Foreword from Andrew Seaton, Executive Director of The British Chamber of Commerce in Hong Kong
Hong Kong is one of Asia’s leading business and financial centres. A dynamic, fast moving, open and accessible market, it offers great opportunities in its own right and provides an unparalleled platform for accessing the China market, and tapping into dynamic Asian economies more widely. It should be top of the list for any British companies looking to new post-Brexit business opportunities.
Hong Kong’s trade and business links with the UK are strong and growing. Remarkably, it is UK business’s second biggest market in Asia. Sectors offering particular opportunities to UK companies include construction and engineering – Hong Kong continues to invest heavily in its infrastructure and urban development; healthcare, where a major hospital building programme is underway; financial and professional services; niche retail, including food and drink; education; environmental technologies and services. New economy areas, such as FinTech, and the creative industries and design, are growing fast.
Hong Kong is repeatedly voted as the world’s freest economy. It consistently ranks in the top tier of ease of doing business surveys. It benefits from a number of distinct characteristics which make it an efficient and user-friendly business hub. These include:
- an open and transparent market: there are virtually no tariffs or import duties
- low and simple taxation
- a familiar and effective commercial legal system based on UK common law
- strong intellectual property protection
- the use of English as an official and widely spoken business language
- free flow of information and the internet
- light touch regulation, and efficient and non-corrupt government
These characteristics are combined with unbeatable connectivity to Mainland China, and strong business and investment links with the mainland, particularly with the rapidly growing Greater Bay Area of southern China, which includes China’s leading tech centre of Shenzhen. The recent rapid growth in mainland companies using Hong Kong for their own outward investment, and capital raising, has added a further dimension to this strong business relationship.
This unique combination means that Hong Kong is one of the biggest hubs for British business in Asia. Many of these companies are active in the British Chamber of Commerce. The Chamber’s events programme, sectoral committee system, and platform mean we offer great networks, market information, and connectivity to any UK company looking to grow its business in the region.
Executive Director of The British Chamber of Commerce in Hong Kong
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