Exporting to Hong Kong, China
Gateway to mainland China
Hong Kong has long played a crucial role in connecting UK businesses with mainland China and other Asian countries, proving to be a leading conduit for flows of outbound and inbound investment.
For the 25th consecutive year, the Heritage Foundation has ranked Hong Kong as the world’s freest economy in this year’s Index of Economic Freedom (Heritage Foundation, 2019). This is a reflection of the Hong Kong Special Administrative Region (HKSAR) Government’s commitment to upholding free market principles over the years. Regulations are light, taxes are low, and as a free port, Hong Kong levies no customs tariffs on imports or exports.
Opportunities for exporters
There are opportunities for UK companies across a broad range of industries. Our trade advisers in Hong Kong have identified particular opportunities for UK businesses in the following sectors:
Technology and Innovation
The government has a vision to build Hong Kong into a world-class smart city. It is aiming to enhance the effectiveness of city management and improve people's quality of life. It also aims to raise Hong Kong's attractiveness and sustainability, by making use of innovation and technology.
Developments in financial technology
Hong Kong is well positioned to develop its fintech sector with its strong broadband infrastructure, good internet connections and mobile penetration rate. In 2017, the UK and Hong Kong signed an agreement designed to reduce the barriers to entry in both jurisdictions, creating trade and investment opportunities for UK companies. This has led to closer collaboration between the UK and Hong Kong’s global financial centres, and has created new business opportunities.
Hong Kong is creating a world-class infrastructure, particularly through a range of projects to develop the city’s international airport, railway network and sports infrastructure. These are creating a number of opportunities for UK companies in design, engineering and construction.
Demand for UK education providers
The UK has an outstanding reputation for education and skills, and several British schools have already opened in Hong Kong. The opportunity exists for international school partnerships not only in Hong Kong, but also in Macao and Hengqin.
An international platform for UK providers
Hong Kong hosts an annual Learning and Teaching Expo. This event provides educational buyers, school leaders and teachers with the opportunity to find innovative educational solutions and the latest learning and teaching technology from the UK.