hong kong

Why Hong Kong?

Dynamic and accessible, Hong Kong is the biggest business hub in Asia. No other location can offer the same kind of gateway to China and the wider Asia-Pacific region.

One of the most open economies in the world, it has a strong rule of law, free flow of information, a transparent government and excellent IPR protection.

The historic ties between Hong Kong and the UK give UK companies an advantage in the market – English is one of Hong Kong’s official languages and widely used in the business world, the legal system is very similar to the UK’s and many Hong Kong businesses are familiar with and have interests in the UK.

Key sectors of opportunity

Under the Hong Kong government’s economic stimulus plan, public sector capital spend is estimated to reach £22 billion over the next six years. Infrastructure projects include the massive West Kowloon Cultural District (WKCD) project; a new cruise terminal and other developments at the former Kai Tak Airport site; and construction of a Hong Kong-Zhuhai-Macao Bridge. Building a greener city, improving the quality of urban space, harbour front enhancement and heritage adaptation are also high on the agenda. These projects offer solid opportunities not just to UK firms in the construction sector, but also to those in creative industries, leisure and tourism and environmental services.

Aerospace - Hong Kong is a major regional aviation hub and offers opportunities in aircraft, engines and maintenance, repair and overhaul. To cope with air traffic growth, Hong Kong International Airport is considering building a new third runway.

Construction - The government has pledged £20 billion of new infrastructure investments including major transport infrastructure. Building a green city, urban revitalisation and heritage adaptation are high on the agenda.

Creative Industries - Hong Kong is the base for much of the creative input to China’s burgeoning manufacturing and service sector, and local designers are considered some of the best in the region. Hong Kong also has a robust media and entertainment industry.

Education and Training - The government’s investment in education accounts for approximately one quarter of its annual budget – the largest single share of any policy area. Niche opportunities include Special Educational Needs, Gifted and Talented Education and Sustainable Education.

Environment - Air quality, solid waste management, water quality and renewable energy all offer business opportunities.

Financial Services - Hong Kong is one of the world’s top financial services centres and is a financial gateway in and out of China. Many UK financial services companies have regional headquarters in Hong Kong.

ICT - Hong Kong has one of the most sophisticated and liberalised telecommunications markets in the world. At the end of 2009, mobile phone penetration in Hong Kong stood at 174%.